PM FME scheme to generate ₹35,000 cr investment: Harsimrat
Launching the scheme during a virtual conference as part of the Centre’s Atmanirbhar Bharat Abhiyan, the Union minister for food processing industries said it will cover 2 lakh enterprises in five years and an outlay of ₹10,000 crore has been fixed for the sameUpdated: Jun 29, 2020, 23:28 IST
Union minister Harsimrat Kaur Badal on Monday said the PM Formalisation of Micro Food Processing Enterprises (PM FME) scheme will generate an investment of ₹35,000 crore and provide employment to 9 lakh skilled and semi-skilled workers.
Launching the scheme during a virtual conference as part of the Centre’s Atmanirbhar Bharat Abhiyan, the Union minister for food processing industries said it will cover 2 lakh enterprises in five years and an outlay of ₹10,000 crore has been fixed for the same.
It will cover 6,700 units in Punjab and expenditure under the scheme would to be shared in 60:40 ratio between the Centre and the state government, she said.
The scheme involved adopting one district one product approach to reap benefits of scale in terms of procurement of inputs, availing common services and marketing of products, Harsimrat added.
“The one district one product could be a perishable produce based or cereal based or a food item widely produced in an area. The existing individual micro food processing units seeking upgrade could avail of credit-linked capital subsidy of 35% of the eligible project cost with a maximum ceiling of ₹10 lakh per unit. Seed capital and credit-linked grant for capital investment as well as common infrastructure will also be provided to the units,” she said.
She also announced extension of operation greens from tomato-onion-potato (TOP) crops to all perishable fruits and vegetables. She said the objective of intervention was to protect the growers of fruits and vegetables from making distress sale due to the lockdown and reduce post-harvest losses.