Goyal supports coffee industry with loan relief and new development schemes

Union Minister Piyush Goyal announced that coffee crop loans will not be subject to the SARFAESI Act, easing concerns for coffee planters facing loan repayment issues. This clarification was made at a conference in Hassan, Karnataka. Goyal emphasized the importance of the coffee industry, which supports many farmers and contributes significantly to foreign exchange earnings. He encouraged young planters to start businesses focused on branding and processing coffee. The government plans to reintroduce four integrated coffee development schemes and will provide a 70% subsidy for collective systems. Additionally, Rs 1,000 crore is expected to be allocated for the coffee industry in the upcoming budget.