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MoFPI incentivises food processing entrepreneurs
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Tuesday, 17 December, 2024, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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Ministry of Food Processing Industries (MoFPI), has been incentivising food processing entrepreneurs, including small and medium, for setting up/expansion of related industries through its Central Sector Pradhan Mantri Kisan SAMPADA Yojana (PMKSY) Scheme, Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) and Centrally Sponsored PM Formalisation of Micro Food Processing Enterprises (PMFME) Scheme across the country. These schemes are not region or state specific but demand driven.
Under sub-schemes of PMKSY, MoFPI provides mostly credit linked financial assistance (capital subsidy) to entrepreneurs with total outlay of Rs 5520 crore for 15th Finance Commission Cycle. MoFPI has sanctioned 41 Mega Food Parks, 399 Cold Chain projects, 76 Agro- Processing Clusters, 559 Food Processing Units, 61 Creation of Backward & Forward Linkages Projects and 51 Operation Green projects under corresponding component schemes of PMKSY till October 31, 2024.
MoFPI also provides financial, technical and business support for setting up/ upgradation of micro food processing enterprises under PMFME scheme. The scheme is operational from 2020-21 to 2025-26, with total outlay of Rs 10,000 crore. A total of 1,08,580 micro food processing enterprises have been approved for assistance under PMFME Scheme till October 31, 2024.
PLISFPI is, inter alia, intended to support creation of global food manufacturing champions and support Indian brands of food products in international market. The scheme is being implemented over a six-year period from 2021-22 to 2026-27, with an outlay of Rs 10,900 crore, and 171 food processing companies have been approved for assistance under various categories of the scheme so far.
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