PM Formalization of Micro Food Processing Enterprises Scheme launched
On June 29, 2020, the Minister of Food Processing Smt Harsimat Kaur Badal launched the PM Formalization of Micro Food Processing Enterprises scheme under the Atma Nirbhar Bharat programme.
The scheme will generate Rs 35,000 crore of investment in the country. Also, it will generate employment for 9 lakh skilled and semi-skilled labours. It will provide training, exposure and access to information to 8 lakhs units. It will also help in formalization of industries.
Key Features of the scheme
The scheme is to be implemented over a period of five years between 2020-21 and 2024-25. The expenditure of the scheme is to be shared between the central and state governments in the ratio 60:40. In Northern states, the share is 90:10 (10% of the expenditure by the state).
One District One Product
The scheme adopts One District One Product Approach. The food product will be identified by the state for every district. The product can be a perishable produce or a cereal based product or a food product. This solely depends on the local produce of the region.
Thus, the scheme supports “Vocal for Local” initiative of the Atma Nirbhar Bharat initiative.
The scheme also gives priorities to aspirational districts’ products, waste to wealth products and minor forest produce products.
The scheme through the IIFPT and NIFTEM institutions operating under Ministry of Food Processing will provide the following training
- Product Development
- Packaging and Machinery for micro units
Month: Current Affairs - June, 2020
Topics: Agriculture • Aspirational District Programme • Atma Nirbhar Bharat Abhiyan • Food Processing • Government Schemes India • Minor Forest Produce • One district one product • vocal for local • waste to wealth