Empowering Nari Shakti: 1 crore houses allotted to women (See 'Corp Brief') MoS dedicates to nation first-of-its-kind 'Eco-Educational Hub' (See 'Corp Brief') XI BRICS Culture Ministers' meeting concludes in Bhopal (See 'Corp Brief') Railways approves introduction of Daily Itarsi-Madan Mahal Passenger Service (See 'Corp Brief') NI Act - Moratorium protects corporate debtor in respect of insolvency proceedings, but does not grant immunity to natural persons from criminal liability already incurred on account of cheque dishonour: HC (See 'Legal Desk') A&C - If prima facie arbitration agreement exists and non-signatories have shown conduct aligning with contract, referral court should allow arbitrator to finalize list of parties based on detailed evidence: HC (See 'Legal Desk') A&C - Arbitral award is patently illegal if it is rendered in summary manner without allowing parties to lead evidence or be heard on critical pleadings: HC (See 'Legal Desk') 13th BRICS Education Ministers' meeting concludes with Declaration (See 'Corp Brief') IEPFA organises Stakeholder Engagement with Nodal Officers of Companies on Portal 2.0 (See 'Corp Brief') SARFAESI - Any tenancy created after issuance of notice u/s 13(2) without prior written consent of secured creditor, is void ab initio: HC National Handloom Day celebrates Tribal Weaves of India (See 'Corp Brief') SECL leads India in Scientific Mine Closure, Transforming abandoned Mines (See 'Corp Brief') IBC - RBI prudential norms stopping banks from recognising interest income on NPA accounts do not wipe out borrower's obligation to accrue & recognise interest expense in its own financial statements: NCLAT (See 'Legal Desk') Sowa-Rigpa must emerge as Globally Recognised Evidence-Based Healthcare System: Jadhav (See 'Corp Brief') Insurance Division, DFS secures 3rd Rank in Group A Category of Grievance Redressal (See 'Corp Brief') IPR - Registration of defendant's trademark does not bar passing off action where plaintiff establishes prior goodwill, misrepresentation and likely damage: HC (See 'Legal Desk') IndiaAI Mission organised AIKosh Univ Engagement Programme at Chitkara Univ (See 'Corp Brief') A&C - In international commercial arbitration seated in India, ground of ‘patent illegality' u/s 34(2A) is expressly excluded: HC (See 'Legal Desk') Comprehensive measures taken to boost digital infrastructure & cyber security: Jitin Prasada (See 'Corp Brief') Misc - A minor admitted to benefits of partnership firm is not personally liable for debts or liabilities incurred by firm during age of minority - ergo, bank communication declaring minor as wilful defaulter is invalid: HC (See 'Legal Desk') IPC showcases India's Regulatory Excellence at WHO Meeting in Nepal (See 'Corp Brief') Companies Act - Solely because a private bank carries on banking operations as scheduled bank or is bound to follow regulatory guidelines issued by the RBI, it does not acquires character of a statutory body: HC (See 'Legal Desk') GI & Beyond 2.0 Summit showcases India's GI-tagged Handloom and Handicraft Products (See 'Corp Brief') IPR - Test for 'efficacy' u/s 3(d) of Patents Act is not limited to 'therapeutic efficacy' for all substances: HC (See 'Legal Desk') CCI approves combination of many entities into InterGlobe Hotels (See 'Corp Brief') IPR - U/s 9(1)(a) of Trade Marks Act, correct legal test is whether applied mark possesses 'distinctive character', means if it is capable of distinguishing applicant's goods from those of others - YES: HC (See 'Legal Desk') House Panel deliberates on strengthening Human-Wildlife Conflict Mitigation through Technology (See 'Corp Brief') IBC - Private bank's commercial decision on debt assignment or settlement, even if regulated by RBI norms, remains private banking transaction and does not satisfy function test for writ maintainability: HC (See 'Legal Desk') PM-PRANAM Promotes Balanced Use of Fertilizer, Organic Farming (See 'Corp Brief') IPR - In absence of evidence showing acquired distinctiveness or secondary meaning, descriptive mark could not validly remain on Register: HC (See 'Legal Desk') On International Clouded Leopard Day, India strengthens Conservation through Dedicated Action Plan (See 'Corp Brief') Limitation - Single Judge rightly declined to exercise writ jurisdiction in a matter which essentially involves contractual obligations & involves disputed issues of fact: HC (See 'Legal Desk') Tete-a-tete around AI in banking sector often begins with algorithms (See CORP EINSICHT)

Print

Govt recounts schemes aimed at developing food processing sector

Published: Aug 09, 2024

By TIOLCorplaws News Service

NEW DELHI, AUG 09, 2024: MINISTRY of Food Processing Industries (MoFPI) is implementing Central Sector Schemes of Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), and Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) and Centrally sponsored Prime Minister Formalization of Micro Food Processing Enterprises (PMFME) scheme for the overall development of food processing sector, including creation of modern infrastructure with efficient supply chain management from farm gate to retail outlet, and to help in providing better returns to farmers, creation of employment opportunities, reducing wastage, increasing the processing level and enhancing the export of the processed foods. All these three schemes are demand driven and implemented across the country.

Under sub-schemes of PMKSY, MoFPI provides mostly credit linked financial assistance (capital subsidy) to entrepreneurs with total outlay of Rs.5520 crore for 15th Finance Commission Cycle. MoFPI has sanctioned 41 Mega Food Parks, 399 Cold Chain projects, 76 Agro-Processing Clusters, 588 Food Processing Units, 61 Backward & Forward Linkages Projects & 52 Operation Greens projects till 30th June 2024.

MoFPI also provides financial, technical and business support for setting up/ upgradation of micro food processing enterprises under PMFME scheme. The scheme is operational for a period of five years from 2020-21 to 2024-25 with total outlay of Rs.10,000 crore. A total of 92,549 sanctions have been given to micro food processing enterprises till 30 th June 2024.

PLISFPI is, inter alia, intended to support creation of global food manufacturing champions and support Indian brands of food products in international market. The scheme is being implemented over a six-year period from 2021-22 to 2026-27 with an outlay of Rs.10,900 crores. 172 food processing companies have been given sanctions for assistance under various categories of the scheme so far.

Keeping in view the requirement of innovative product and process development in food processing sector, MoFPI extends financial supports to educational and research institutions including Council of Scientific & Industrial Research (CSIR) recognized Research and Development (R&D) units in private sector for related demand driven R&D projects through its R&D scheme under PMKSY. 72 research projects have been approved since 2017-18 till 30th June 2024 with an approved subsidy of Rs.26.12 crore.

In addition, National Institute of Food Technology, Entrepreneurship & Management (NIFTEM) Kundli and NIFTEM, Thanjavur, under the administrative control of MoFPI, are also engaged in R&D activities in the sector.

This information was given by the Minister of State for Food Processing Industries Ravneet Singh in Lok Sabha in reply to a question yesterday.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.