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pm formalization of micro food processing enterprises scheme to generate total investment of rs 35000 crore

Minister for Food Processing Industries Harsimrat Kaur Badal launched the PM Formalization of Micro Food Processing Enterprises (PM FME) scheme on 29th June 2020 as a part of “Atmanirbhar Bharat Abhiyan”. Union Minister said that the Scheme would generate total investment of Rs 35,000 crore and generate 9 lakh skilled and semi-skilled employment and benefit 8 lakh units through access to information, training, better exposure and formalization. Highlighting the role of local food processing units, Union Minister said that food products manufactured by the rural entrepreneurs in the villages have a long tradition of supplying Indian food products to the local population. The importance of these local units and their role has been amply emphasised by the Hon’ble Prime Minister in his Address to the Nation on 12.5.2020.

Union FPI Minister said that the unorganized food processing sector comprising nearly 25 lakh units contribute to 74% of employment in food processing sector. The expenditure under the scheme would to be shared in 60:40 ratio between Central and State Governments, in 90:10 ratio with North Eastern and Himalayan States, 60:40 ratio with UTs with legislature and 100% by Centre for other UTs.

The Scheme adopts One District One Product (ODODP) approach to reap benefit of scale in terms of procurement of inputs, availing common services and marketing of products. Existing Individual micro food processing units desirous of upgradation of their unit can avail credit-linked capital subsidy @35% of the eligible project cost with a maximum ceiling of Rs.10 lakh per unit. Seed capital @ Rs. 40,000/- per SHG member would be provided for working capital and purchase of small tools.

FPOs/ SHGs/ producer cooperatives would be provided credit linked grant of 35% for capital investment along the value chain. Support would be provided through credit linked grant @ 35% for development of common infrastructure. Support for marketing & branding would be provided to develop brands for micro units and groups with 50% grant at State or regional level which could benefit large number of micro units in clusters.

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