Policy

Food processing ministry grants aid for 10 projects

Our Bureau | Updated on March 05, 2020 Published on March 05, 2020

8 Tamil Nadu projects get approval under cluster scheme

New Delhi, March 5

The Food Processing Ministry said on Thursday that grant-in-aid of ₹67.29 crore has been sanctioned for 10 projects worth ₹301.54 crore under the “Agro Processing Cluster Scheme” of the Ministry’s Kisan SAMPADAYojana.

The decision was taken at a meeting of the Inter-Ministerial Approval Committee chaired by the Union Minister for Food Processing Industries, Harsimrat Kaur Badal.

The committee approved eight projects spread over eight districts of Tamil Nadu under the cluster scheme, worth ₹230 crore, at a meeting held on Wednesday. “These projects envisage the creation of direct and indirect employment for persons, along with employment opportunities in rural areas to be the focus area. These projects are likely to generate employment for around 8,000 people and benefit 32,000 farmers in that region,” an official statement said.

Badal stated that the Food Processing Ministry has facilitated investment worth ₹707 crore over the last 15 days. She added that the Government, through the Ministry of Food Processing Industries (MoFPI), is making all efforts to encourage investments in the business.

“100 per cent FDI is permitted under the automatic route in Food Processing Industries and 100 per cent FDI is allowed through approval route for trading including e-commerce in respect of food products manufacture and/or produced in India. 100 per cent Income Tax exemption for profit derived from activities such as post-harvest value addition to agriculture by FPOs having annual turnover up to ₹100 crore,” Badal stated.

Published on March 05, 2020
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