Press Information Bureau

Government of India

Ministry of Finance

11-May-2012 17:53 IST

BIFR Like Institution for Agriculture Sector

Board for Industrial and Financial Reconstruction (BIFR) has been set up with a view to secure the timely detection of sick and potential sick companies and for their possible revival/ rehabilitation. BIFR does not deal with any sort of grants/ financial assistance to sick industries.

Further, there is no proposal under consideration to make available basic infrastructural facilities to agriculture sector on the lines of BIFR.

This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Lok Sabha today.

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DSM/SS/SL

BIFR-like institution: no proposal to create an agriculture-sector analogue; BIFR does not provide grants. The Board for Industrial and Financial Reconstruction (BIFR) serves to detect sick and potentially sick companies and consider their revival or rehabilitation and does not provide grants or financial assistance; no proposal exists to create a comparable BIFR-like institution to deliver basic infrastructural facilities to the agriculture sector.