PM Formalization of Micro Food Processing Enterprises Scheme launched

June 29, 2020

On June 29, 2020, the Minister of Food Processing Smt Harsimat Kaur Badal launched the PM Formalization of Micro Food Processing Enterprises scheme under the Atma Nirbhar Bharat programme.

Highlights

The scheme will generate Rs 35,000 crore of investment in the country. Also, it will generate employment for 9 lakh skilled and semi-skilled labours. It will provide training, exposure and access to information to 8 lakhs units. It will also help in formalization of industries.

Key Features of the scheme

The scheme is to be implemented over a period of five years between 2020-21 and 2024-25. The expenditure of the scheme is to be shared between the central and state governments in the ratio 60:40. In Northern states, the share is 90:10 (10% of the expenditure by the state).

One District One Product

The scheme adopts One District One Product Approach. The food product will be identified by the state for every district. The product can be a perishable produce or a cereal based product or a food product. This solely depends on the local produce of the region.

Thus, the scheme supports “Vocal for Local” initiative of the Atma Nirbhar Bharat initiative.

The scheme also gives priorities to aspirational districts’ products, waste to wealth products and minor forest produce products.