Ministry of Food Processing Industries vide press release dated 21 March, 2023 has published the PMFME scheme to support setting up of 2 lakh micro food processing enterprises through credit linked subsidy. Under component schemes of PMKSY, MoFPI provides mostly credit linked financial assistance (capital subsidy) in the form of grants-in-aid to entrepreneurs for setting up of food processing industries. The projects completed under component schemes of PMKSY are estimated to benefit about 30.67 lakh famers.
MoFPI is also implementing Central Sector Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) Scheme, intended to support creation of global food manufacturing champions. The Scheme is being implemented over a six-year period from 2021-22 to 2026-27 with an outlay of Rs. 10,900 crores. For easy and affordable credit to the sector, all food & agro processing activities have been made eligible under Priority Sector Lending and a special fund of Rs.2000 crore has been set up in National Bank for Agriculture and Rural Development (NABARD).