Nirmala Sitharaman announces Rs 10,000 crore scheme for MFEs

Sitharaman has been announcing the details of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi on Tuesday, vowing to make the country ‘atmanirbhar’ or self-reliant.

Union finance minister Nirmala Sitharaman said on Friday a Rs 10,000 crore scheme will be launched to help two lakh micro food enterprises (MFEs) in the country with an aim to implement Prime Minister Narendra Modi’s vision of “vocal for local with global outreach”.

Finance Minister Nirmala Sitharaman said that agriculture and allied activities will be the focus of the third tranche of the economic package to combat the damage caused by the coronavirus pandemic in the country. (Screengrab)

The scheme, the finance minister said, will cover existing micro food enterprises, farmer producer organisations, self-help groups and cooperatives. These unorganised MF units will be able to upgrade technically to FSSAI food standards, build brands and marketing through this scheme.

This will help improve health and safety standards, integration with retail markets and incomes. It will also help in reaching untapped export markets in view of improved health consciousness.

Sitharaman has been announcing the details of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi on Tuesday, vowing to make the country ‘atmanirbhar’ or self-reliant.

She said that agriculture and allied activities will be the focus of the third tranche of the economic package to combat the damage caused by the coronavirus pandemic in the country.

“I will announce 11 measures and eight of them relate to strengthening infrastructure, strengthening capacity, building better logistics…. The rest three of the 11 will pertain to governance and administrative reforms,” she said in her third press briefing in as many days.

Sitharaman will be holding daily press conferences till Sunday.