: Govt approves 28 Food Processing Projects worth over Rs 320 Crores #FinanceIndia #StockMarketNEWS Govt approves 28 Food Processing Projects worth over Rs 320 Crores New Delhi, Nov 23 (KNN) Ministry

@StockMarketNEWS Wed 25 Nov, 2020

Posted in: #FinanceIndia #StockMarketNEWS

Govt approves 28 Food Processing Projects worth over Rs 320 Crores #FinanceIndia #StockMarketNEWS
Govt approves 28 Food Processing Projects worth over Rs 320 Crores New Delhi, Nov 23 (KNN) Ministry of Food Processing Industries (MoFPI) has approved 28 projects, with project costs of Rs. 320.33 crores under the CEFPPC Scheme by the Inter-Ministerial Approval Committee (IMAC) meeting.

28 projects, with project costs of Rs. 320.33 crores, supported with a grant of Rs. 107.42 Crores by MoFPI, were approved under the CEFPPC Scheme by the Inter-Ministerial Approval Committee (IMAC) meeting chaired by union minister, Narendra Singh Tomar, Minister of Food Processing Industries (MoFPI).

These projects spread over 10 states are likely to generate employment for nearly 10,000 people.

Narendra Singh Tomar chaired the IMAC meeting through video conference to consider projects under the Scheme of Creation/Expansion of Food Processing and Preservation Capacities (CEFPPC) (Unit Scheme) under Pradhan Mantri Kisan Sampada Yojana (PMKSY) for necessary Grants-in-aid. Rameswar Teli, MoS FPI, was also present in the meeting. Promoters of the scheme attended the meeting virtually.

These 28 projects will create a processing capacity of 1237 MT daily andare spread across the states of Madhya Pradesh, Gujarat, Uttar Pradesh, Maharastra, J&K, Karnataka, Tamil Nadu, Uttarakhand, Assam, and Manipur. These 28 projects include 6 projects of north Eastern states with project costs of Rs. 48.87 crores supported with a grant of Rs. 20.35 Crores by MoFPI.

The main objective of the CEFPPC scheme is creation of processing and preservation capacities and modernisation/ expansion of existing food processing units with a view to increasing the level of processing, value addition leading to reduction of wastage.

While expansion of processing capacity is necessary to increase the level of processing and reduce wastage, the induction of modern technology is intended to make a clear difference in terms of process efficiencies as well as improving the quality of the end product.

The setting up of new units and modernization/ expansion of existing units are covered under the scheme.