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Government sanctions 10 projects worth over Rs301 crore under Agro Processing Cluster Scheme
Union Government has sanctioned ten projects worth Rs 301.54 crore for the food processing sector. The projects with a total grant-in-aid of Rs 67.29...
Union Government has sanctioned ten projects worth Rs 301.54 crore for the food processing sector. The projects with a total grant-in-aid of Rs 67.29 crore were sanctioned in a meeting of the Inter-Ministerial Approval Committee (IMAC) that was held in New Delhi under the Chairpersonship of Food Processing Industries Minister Harsimrat Kaur Badal.
These projects were sanctioned under the Agro Processing Cluster Scheme of Kisan Sampada Yojana.
Ms Badal said, "In the last 15 days, the Ministry has facilitated investments worth Rs 707 crore." She added, the government is making all efforts to encourage investments in the business. And, the government is making efforts - through the Ministry of Food Processing Industries (MoFPI) - to encourage investments in the business. 100 per cent FDI is permitted under the automatic route in food processing industries and 100 per cent FDI is allowed through approval route for trading including e-commerce in respect of food products that are produced and manufactured in India. Further, 100 per cent income tax exemption is given from profit derived from activities such as post-harvest value addition to agriculture by FPO's having annual turnover up to Rs 100 crore.
These projects are likely to generate employment for ten thousand people and benefit nearly forty thousand farmers.
IMAC, earlier on March 4, 2020, approved 8 projects spread over eight districts of Tamil Nadu under the cluster scheme worth Rs 230 crore. These projects aim at the creation of direct and indirect employment for persons along with employment opportunities in rural areas to be the focus area. These projects are likely to generate employment for around 8000 people and benefit 32000 farmers in that region.
Aim of Agro-Processing Cluster Scheme
It aims at the development of modern infrastructure and common facilities that encourage group entrepreneurs to set up food processing units based on cluster approach by linking groups of farmers and producers to the processors and markets through the well-equipped supply chain with modern infrastructure. The units are set up simultaneously along with the creation of common infrastructure.
