CCEA approves renaming SAMPADA Scheme as PM Kisan Sampada Yojana
The Cabinet Committee on Economic Affairs (CCEA) has approved renaming of SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) as Pradhan Mantri Kisan Sampada Yojana (PMKSY).
The SAMPADA scheme was approved by the CCEA in May 2017 for the period of 2016-20 coterminous with the 14th Finance Commission cycle. The objective of the scheme is to supplement agriculture, modernize processing and decrease agricultural-waste.
Pradhan Mantri Kisan Sampada Yojana (PMKSY)
PMKSY is an umbrella scheme which incorporates all ongoing schemes of the Union Ministry of Food Processing Industries (MoFPI). It includes MoFPI’s schemes such as Mega Food Parks, Food Safety and Quality Assurance Infrastructure, Integrated Cold Chain and Value Addition Infrastructure, etc. It also includes new schemes like Creation of Backward and Forward Linkages, Infrastructure for Agro-processing Clusters, Creation/Expansion of Food Processing & Preservation Capacities.
Financial Allocation
PMKSY will have budgetary allocation of Rs. 6000 and is expected to leverage investment of Rs. 31,400 crore, handling of 334 lakh MT agro-produce valuing Rs. 1 lakh 4 thousand 125 crore. It will benefit 2 million farmers and generate over 5 lakh 30 thousand direct or indirect employment in the country by the year 2019-20.
Significance
The implementation of PMKSY will result in creation of modern infrastructure with efficient supply chain management from farm gate to retail outlet. It will provide a big boost to the growth of food processing sector in the country which is important segment of the Indian economy in terms of its contribution to GDP, employment and investment.
It will help in providing better prices to farmers and is a big step towards doubling of farmers’ income. It will create huge employment opportunities especially in the rural areas and also help in reducing wastage of agricultural produce, increasing availability of safe and convenient processed foods at affordable price to consumers and enhancing the export of the processed foods.
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Month: Current Affairs - August, 2017