Gujarat Agro Industries Corporation, once one of the strongest venture of the Gujarat government, is incurring heavy losses now. Its sales figures have witnessed a drastic decline during the year, resulting in 258 workers getting reduced from the roll under voluntary retirement scheme (VRS) with an outgo on this account being pegged at Rs 7.85 crore.
During the year, 258 employees took the advantage of VRS scheme declared by the corporation for which the corporation took a loan of Rs 7 crore from the state government. According to the sources, it has decided to spread out the expenses of VRS to the next five years.
In such circumstances, to implement the action plan of
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