India’s food processing service is chipping away at another scheme — Gram Samridhi Yojana — to support the unorganized food processing sector focused in rural territories, an authority said. About 66% of disorderly food processing units are in provincial regions and of these, 80% were family run.
The Rs 3,000 crore scheme financed by the World Bank and the center will assist cottage industry, Farmer Producer’s Association and individual food processors expand capacity, update technology other than skill development, enterprise development and fortifying the farmhouse to market inventory network.
Niti Aayog has given them on a basic level endorsement to the plan and now the proposition has gone to the Expenditure Finance Committee for freedom, said the authority.
To guarantee to an increment of farmers’ income and job opportunities in rural zones, they are accompanying this plan for food processing ventures. This will be a distinct advantage, which will empower cottage and small enterprise to process local produce, bundle, and market it,” said the authority.
The authority said the most extreme cap of subsidy to be given to a unit will be Rs 10 lakh, aside from scheme misappropriation, on the off chance that they profit of advances. “There is a provision for getting a subsidy on bank enthusiasm by 3% to 5%,” he said.
The plan will be kept running at the bunch level where food processing units or individual players can apply for the subsidy online.
The scheme aims at the development of modern infrastructure to urge entrepreneurs to set up food processing units, update technology in the existing unit, improve the executives of the units and give specialized support,” he said.
Gram Samridhi Yojana additionally means to give common facility centers and business hatcheries in country territories. “The incubator will provide infrastructure and services to facilitate the development of new food organizations. It will offer programs and equipment to support an entrepreneur launch a new product through market launch, development, and development in sales,” he said.
World Bank will give Rs 1,500 crore while Rs 1,000 crore will be stood by the inside while state governments will put in Rs 500 crore, said the authority.
In the underlying stage, the plan will be kept running in Uttar Pradesh, Andhra Pradesh, Maharashtra, and Punjab for a five-year time frame and from there on reproduced in different states.