Mint explainer: why the Centre wants to extend its ₹10,000 crore food-processing scheme
The Centre wants to extend PMFME by five years to help more micro food businesses formalize, access finance and invest in technology, while reducing post-harvest losses and expanding food processing.
The Indian government aims to extend its ₹10,000 crore food-processing scheme, the Pradhan Mantri Formalization of Micro Food Processing Enterprises (PMFME), for an additional five years. Mint explains the rationale behind this extension and how increased funding could benefit these micro enterprises. Launched in the fiscal year 2021, the scheme has been a key initiative of the Ministry of Food Processing Industries.
Vijay C. Roy, a journalist with over two decades of experience covering various sectors, sheds light on why the government is keen on prolonging this support.
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