Odisha

OSSC witnesses the profit of Rs 4.5 crore

OSSC states to witness a profit of 4.5 crore
OSSC states to witness a profit of 4.5 crore

Odisha has not yet recovered from the huge loss that it faced in 2015-16 because of the poor demands in paddy seeds from the farmers. However, the recent report suggests that in 2020-21, the OSSC or the Odisha State Seeds Corporation expects a revenue of Rs. 4.5 crore. Owing to the COVID-19 crisis, the state authority arranged the annual general body on the digital medium on 24th September. The officials declared the financial statement for the year of 2017-18 at the event. It records a marginal revenue of Rs 23.51 lakh. For having more insights, read till the end.

Accounts of the Director of the Corporation

As per the director of OSSC Mr Ashok Boral, the corporation engaged with the venture of Rs 169.31 crore in 2019-20. Moreover, the un-audited account, the association is anticipating revenue of around Rs 4 crore. In addition, OSSC has decided to involve in the business of Rs 175 crore despite the pandemic situation in 2020. The objective is to set a goal of making revenue of approximately Rs 4.5 crore.

The condition of OSSC

As mentioned in the beginning, the corporation is going through financial stress from 2015-16. At that period, it met a loss of more than Rs 26.15 crore owing to the low supply of paddy seeds. The corporation witnessed the loss due to the incorporation of the DBT scheme. The maximum of the farmers showed their ignorance in buying the paddy seeds by paying the full charge as per the scheme.

As a result, OSSC had managed to sell only 2.15 quintal of certified paddy seeds to the farmers of the state. However, it purchased around 5.46 quintals. Thus, it sustained a financial loss of around Rs 26.15 crore. However, the state authority has assisted the corporation to overcome the loss by providing Rs 7.15 crore. Generally, the state government allots Rs 1000 crores every year to provide seeds to the farmers.

 

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Shipra Sharma

Shipra Sharma

Shipra has done his graduation in Mass Communication and her immense love for literature pushes him to be a great writer. She dedicates her time in improving his vocabulary and writing skills. Before Fox Activity, she has worked as an associate author in esteemed newspapers. Contact her at shipra@youngindiaface.in

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