Government’s PMFME scheme for micro food processing units sanctions over 25,000 loans
- IBEF
- March 23, 2023
PM Formalisation of Micro Food Processing Enterprises Scheme (PMFME), which offers a credit-linked subsidy to set up or upgrade micro food processing units, has received over 102,515 loan applications so far. According to information provided by the Minister of Food Processing Industries, Mr. Pashupati Kumar Paras, 25,774 credit applications out of those received have been approved.
With an investment of US$ 1.21 billion (Rs. 10,000 crores), the programme aims to support the establishment of two lakh micro food processing businesses through credit-linked subsidies over a five-year period from 2020–21 to 2024–25.
In addition to providing credit support, the programme includes a capacity-building component that aims to train individual micro-food processing businesses. So far, over 25 training workshops/sessions have been conducted for 486 master trainers, 76 sessions for 983 district-level trainers, and 1,085 sessions for 27,949 beneficiaries.
The ministry has signed joint letters or memorandums of understanding (MoU) with numerous government organisations and agencies, including the Indian Council for Agriculture Research (ICAR), Department of Animal Husbandry and Dairying (DAHD), and others, to harmonise the PMFME programme with other government programs, identify and handhold disadvantaged groups, and more.
The Central Sector Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) is being operated by the Ministry of Food Processing Enterprises which aims to support the creation of global food manufacturing companies. It is being implemented over a six-year period from 2021-22 to 2026-27 with an outlay of US$ 1.32 billon (Rs. 10,900 crores).
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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