Prime Minister’s Micro Food Industry Upgradation Scheme: Central Government will give subsidy of 10 lakh rupees

Union Food Processing Industries Minister Pashupati Kumar Paras said that his ministry has launched the Prime Minister’s Micro Food Industry Upgradation Scheme (PMFME) today under the self-reliant India campaign. Under this, with a maximum subsidy limit of Rs 10 lakh, micro food processing unit 35 percent credit linked subsidy and maximum subsidy of Rs 3 crore is being given for common infrastructure. So far, about 62 thousand people engaged in food processing activities have been benefitted by this scheme.

The objective of this scheme is to provide financial, technical and commercial assistance for the promotion of micro food processing enterprises in the country. Around 7,300 loans have been sanctioned under the scheme for setting up a new micro food enterprise or for upgrading existing units. Of these, about 60 per cent of the eligible beneficiaries are engaged in primary agricultural produce and are receiving an additional interest subvention of 3 per cent at the rate of interest charged by the banks.

Integration of AIF with other schemes

Union Agriculture Minister Narendra Singh Tomar and Food Processing Industries Minister Pashupati Kumar Paras were launching the convergence module between Agriculture Infrastructure Fund Scheme (AIF), Pradhan Mantri Micro Food Enterprises Upgradation Scheme (PMFME) and Pradhan Mantri Kisan Sampada Yojana (PMKSY). Tomar has said that in the Agriculture Infrastructure Fund, the facility of convergence with any other scheme of the state or central government has been given. Therefore, it is being integrated with many external systems and portals on a large scale.

What is the function of Agriculture Infrastructure Fund?

Tomar informed that convergence of AIF has already been done for commercial horticulture development and cold storage development schemes of National Horticulture Board. Under this, interest subvention and credit guarantee assistance will be given till the year 2032-33 from a fund of one lakh crore rupees. Krishi Infra Fund is a financial facility, which was launched on 8 July 2020.

Under which post-harvest management infrastructure and community agriculture assets will be created. In which the benefit includes 3 percent interest subvention and credit guarantee support. Now its convergence module has been started between Pradhan Mantri Micro Food Enterprises Unnayan Yojana and Pradhan Mantri Kisan Sampada Yojana.

now easy to get subsidy

Tomar said that the Prime Minister has been saying that all the ministries should work together with each other and not think one-sided, so that people can get the benefits of various schemes. Eligible AIF beneficiaries can get the benefit of subsidy by applying under the Pradhan Mantri Micro Food Enterprises Unnayan Yojana (PMFME). The process of getting 3% interest subvention has been simplified, wherein the beneficiaries can apply on the portal using the sanction letter under the already approved DPR.

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