Govt intends to waive free interest on Milk Mission loan

Shillong, Nov 26: Meghalaya Deputy Chief Minister Prestone Tynsong today announced the state government’s intention to cover interest rates for cooperative societies willing to avail loan from the Milk Mission through National Cooperative Development Corporation.

“Government is thinking of extending Milk Mission loan with free interest. Finance, Planning Chief Minister and I are working on this,” he said.

The Deputy Chief Minister who is also minister-in charge A.H & Veterinary Department added that the government will pay Rs. 15 crores of interest component and that cooperative societies will need to pay only the principal amount.

Tynsong was speaking during an event celebrating National Milk Day at Yojana Bhavan, Main Secretariat.

The yearly event National Milk day is celebrated to mark the birth anniversary of the father of White Revolution Dr. Verghese Kurien.

At the event he also stressed the need to increase milk production in the state, adding that the government will revisit cost of milk rates so that the public doesn’t switch over to buying milk produced by out-of-state companies.

 He also added that taking milk will help boost immunity, which in turn will help the body fight against diseases including COVID-19.