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Sericulture Development and Price Stabilisation Fund

While implementing World Bank aided National Sericulture Project the bank suggested charging a fee on value of cocoon and silk transacted in regulated markets from both the producer and purchaser and utilising the funds for sericulture development.  Accordingly, the “Sericulture Development & Price Stabilisation Fund” was constituted in 1990. At present a levy of 0.75% on value of the cocoons/silk sold in the cocoon markets/Silk exchange, has been collected from both the buyer & seller and remitted into Government head of account. The amount collected is being utilised for the development of the sericulture industry, on approval of schemes by Sericulture Development & Price Stabilisation Fund Committee with Government orders.