PMFME scheme to support setting up of 2 lakh micro food processing enterprises

PMFME scheme to support setting up of 2 lakh micro food processing enterprises

As part of the Aatmanirbhar Bharat initiative, Ministry of Food Processing Industries (MoFPI), Government of India, is implementing a Centrally sponsored scheme-PM Formalisation of Micro Food Processing Enterprises Scheme (PMFME) for providing financial, technical and business support for setting up and upgradation of two lakh micro food processing enterprises through credit linked subsidy during five years from 2020-21 to 2024-25 with an outlay of Rs. 10,000 crores. Out of this, a total of 22,234 units and 7,331 units have been allocated to Maharashtra and Rajasthan respectively, Minister of State for Food Processing Industries, Prahlad Singh Patel said in a written reply to a question Lok Sabha today.

Also, the ministry has been implementing a Central sector umbrella scheme- Pradhan Mantri Kisan Sampada Yojana (PMKSY) since 2016-17 for overall growth and development of the food processing sector, including the processing of agro-products and thus increasing the income of the farmers across the country including in the state of Maharashtra and Rajasthan. Under component schemes of PMKSY, MoFPI provides mostly credit-linked financial assistance (capital subsidy) in the form of grants-in-aid to entrepreneurs for setting up food processing industries. The projects completed under component schemes of PMKSY are estimated to benefit about 30.67 lakh farmers.

You may also like to read: MoFPI to host international mega food event ‘World Food India’ in Nov 2023 in New Delhi

In the written reply it was stated that MoFPI is not facing any major hardship in implementing these schemes.

MoFPI is also implementing Central sector Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) scheme, intended to support the creation of global food manufacturing champions. The scheme is being implemented over a six-year period from 2021-22 to 2026-27 with an outlay of Rs. 10,900 crores. For easy and affordable credit to the sector, all food and agro-processing activities have been made eligible under priority sector lending and a special fund of Rs.2,000 crore has been set up in National Bank for Agriculture and Rural Development (NABARD).

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2 Comments on “PMFME scheme to support setting up of 2 lakh micro food processing enterprises”

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