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New Delhi, July 10 Mr Subodh Kant Sahay, Minister of Food Processing Industries, clarified that the Government has no plans of creating a separate head for the food processing sector to overcome problems of bank funding. He said that the Ministry had already started implementing various schemes such as the Scheme for Infrastructure Development, setting up of technology upgradation for Food Processing Industries, a scheme for quality assurance and upgradation of quality of street food.

He also stated that the sector had been given certain fiscal benefits such as exemption from paying Income Tax for fruits and vegetable processing units, reduction of excise duty on ready to eat packaged food from 16 to 8 per cent. Also there is an automatic approval for 100 per cent foreign equity in the food processing sector.

To strengthen food processing infrastructure, the Government has approved a scheme for Mega Food Parks, which envisages a well-defined agri/horticultural-processing zone containing state-of-the-art processing facilities.

The scheme for quality assurances is aimed at motivating food processing industries to adopt food safety and quality assurance mechanisms.

More Stories on : Foods & Food Processing | Other States

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