: Govt approves food processing projects worth Rs 234.68 cr #FinanceIndia #StockMarketNEWS Govt approves food processing projects worth Rs 234.68 cr New Delhi, Nov 25 (KNN) To consider the proposals

@StockMarketNEWS Wed 25 Nov, 2020

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Govt approves food processing projects worth Rs 234.68 cr #FinanceIndia #StockMarketNEWS
Govt approves food processing projects worth Rs 234.68 cr New Delhi, Nov 25 (KNN) To consider the proposals received under the scheme for creation of infrastructure for Agro-Processing Cluster (APC) of Pradhan Mantri Kisan Sampada Yojana (PMKSY), Union Minister of Food Processing Industries Narendra Singh Tomar, chaired the IMAC meeting through video conference on Tuesday. The promoters of projects also participated through Video Conference.

IMAC approved 7 proposals with total project cost of Rs. 234.68 Crores including grants-in-aid of Rs. 60.87 Crores in the States/UTs of Meghalaya, Gujarat, Madhya Pradesh, Karnataka, Maharashtra. These projects will leverage private investment of Rs. 173.81 Crores and are expected to generate employment for 7750 persons.

The scheme for Creation of Infrastructure for Agro-Processing Cluster (APC) has been approved on 03.05.2017 under the Pradhan Mantri KisanSampada Yojana to incentivize the setting up of agro processing clusters in the country.

This scheme aims at development of modern infrastructure to encourage entrepreneurs to set up food processing units based on cluster approach. These clusters will help in reducing the wastage of the surplus produce and add value to the horticultural / agricultural produce which will result in increase of income of the farmers and create employment at the local level.

The major objective of the scheme is to create modern infrastructure for food processing closer to production area and to provide integrated and complete preservation infrastructure facilities from the farm gate to the consumer.

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