Punjab approves mega food park in Ludhiana
Punjab government gave in-principle approval for establishing a Rs. 150-crore mega food park at Ladowal in Ludhiana to promote food processing industry in the state.
The Central Government’s scheme of Mega Food Park, which aims at providing a mechanism to link agricultural production to the market, provides for a one-time capital grant of 50% of the project cost, subject to a limit of Rs. 50 crore in general areas and 75% of the project cost, subject to a limit of Rs. 50 crore in difficult and hilly areas.
Mega Food Parks Scheme
This scheme was launched in the 10th Plan as Scheme of Food Parks and was revised during the 11th Plan period and was rechristened as Mega Food Parks Scheme (MFPS). The scheme was approved by the Union Government in September 2008.
Objectives of MFPS:
- To accelerate growth of food processing industry in the country.
- Enhance the processing of perishables in the country from the current 6% to 20%.
- Raising value addition from existing 20% to 35%.
- Increase India’s share in global food trade from 1.5% to 3% by year 2015.
Month: Current Affairs - May, 2014