Centre launched PM Formalization of Micro Food Processing Enterprises scheme

The scheme aims to provide financial, technical, and business support for the upgradation of existing micro food processing enterprises.
Akshaya

Updated: Jun 29, 2020 08:05:07 pm

Centre launched PM Formalization of Micro Food Processing Enterprises scheme

29 June 2020 Current Affairs:Centre launched the PM Formalization of Micro Food Processing Enterprises (PM FME) scheme as a part of Atmanirbhar Bharat Abhiyan. It was launched by Union Minister for Food Processing Industries Harsimrat Kaur Badal on 29 June. 

PM Formalization of Micro Food Processing Enterprises (PM FME):
♦ Centrally Sponsored PM Formalisation of Micro food processing Enterprises scheme was launched by the Ministry of Food Processing Industries (MoFPI).
♦ The scheme aims to provide financial, technical, and business support for the upgradation of existing micro food processing enterprises.
♦ The PM FME Scheme will generate a total investment of Rs.35,000 crore.
♦ It will also generate 9 lakh skilled and semi-skilled employment and benefit 8 lakh units through access to information, training, better exposure, and formalization.
♦ The scheme will be implemented over a period of five years from 2020-21 to 2024-25 with an outlay of Rs.10,000 crore.
♦ The expenditure for the scheme will share a 60:40 ratio between Central and State Governments, in 90:10 ratio with North Eastern and the Himalayan States, 60:40 ratio with UTs with the legislature, and 100% by Centre for other UTs.
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