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Formalization of Micro Food Processing Enterprises scheme launched by Harsimrat Kaur Badal

Formalization of Micro Food Processing Enterprises scheme launched by Harsimrat Kaur Badal

The PM Formalization of Micro Food Processing Enterprises (PM FME) scheme was launched by the Minister for Food Processing Industries Smt. Harsimrat Kaur Badal on 29 June 2020 as a part of “Atmanirbhar Bharat Abhiyan”.

Key Points:

  • Under the scheme, a total investment of Rs 35,000 crore will be generated along with 9 lakh semi-skilled and skilled employment.
  • The scheme will also benefit 8 lakh units by providing them access to better exposure, information, formalization and training. The guidelines of the scheme were published on the occasion.
  • The scheme has also been launched with an objective of providing business, technical and financial support to upgrade the existing micro food processing enterprises.
  • The scheme will be implemented over five years from 2020-21 to 2024-25, with an estimated amount of Rs 10,000 crore.
  • Under the scheme, the expenditure would be shared in the following ratio:
  1. 60:40 between the Central and State Governments.
  2. 90:10 with the North Eastern and the Himalayan States.
  3. 60:40 proportion with UTs with the legislature
  4. 100 percent by the Centre for other UTs.
  • The One District One Product (ODODP) approach has also been adopted, which will help in obtaining maximum benefit of scale with regards to availing common services, marketing of products and procurement of inputs.

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