Food Processing Industries India Sets Course for Food Processing Modernisation
India's cabinet has decided on a plan for the modernisation and upgrade of the country's food processing industry within the next five years: With grant–in aids and subsidies, the new plans are set to meet the demand of the industry, insiders say...
New Delhi/India – The Cabinet Committee on Economic Affairs has approved the proposal of the Ministry of Food Processing Industries for continuing the Scheme of technology upgradation/ establishment/ modernization of food processing industries during the 12th Plan (2013-17) to meet the committed/spillover liabilities of the proposals received in the Ministry of Food Processing Industries during 11th Plan (up to 31.03.2012), under the Scheme for an amount of Rs. 740 crore during the 12th Plan.
The Scheme has been one of the most popular of the Plan Schemes of the Ministry. As a result, a large number of applications were received, which could not be accommodated within the allocated budget during the 11th Plan. Therefore, the committed liabilities have arisen, which are required to be met under the Central Sector by the Ministry.
Plans for Supporting India's Food Industry
The above scheme envisages back ended subsidy by way of grant-in-aid. Their cases would be considered for sanction by continuing the scheme during 12th Plan (2013-17) to clear the committed/spillover liabilities of 11th Plan.
The above Scheme has been subsumed w.e.f. April 1, 2012 under the newly launched Centrally Sponsored Scheme of National Mission on Food Processing (NMFP) in the 12th Plan for implementation through State/ UT Governments. Thus all the eligible applicants under the Scheme will be sanctioned financial assistance by the respective State Governments w.e.f. April 1, 2012 and onwards in the 12th Plan.