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SAMPADA renamed as Pradhan Mantri Kisan Sampada Yojana

SAMPADA renamed as Pradhan Mantri Kisan Sampada Yojana

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on August 23, 2017 approved the renaming of SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) as Pradhan Mantri Kisan Sampada Yojana (PMKSY).

The new Central Sector Scheme PMKSY was approved for the period of 2016-20 coterminous with the 14th Finance Commission cycle. Earlier, CCEA in its meeting held in May, 2017 approved the new Central Sector Scheme “SAMPAD” with same allocation and period.

What essentially is PMKSY?

PMKSY is an umbrella scheme incorporating ongoing schemes of the Food Processing Ministry like Mega Food Parks, Integrated Cold Chain and Value Addition Infrastructure, Food Safety and Quality Assurance Infrastructure, etc. and also new schemes like Infrastructure for Agro-processing Clusters, Creation of Backward and Forward Linkages, Creation / Expansion of Food Processing & Preservation Capacities.

What is the Objective?

The objective of PMKSY is to supplement agriculture, modernize processing and decrease Agri-Waste.

What is the Financial Allocation for PMKSY?

PMKSY with an allocation of Rs. 6,000 crore is expected to leverage investment of Rs. 31,400 crore, handling of 334 lakh MT agro-produce valuing Rs. 1,04,125 crore, benefit 20 lakh farmers and generate 5,30,500 direct/ indirect employment in the country by the year 2019-20.

What will be Impact of PMKSY?

  • The implementation of PMKSY will result in creation of modern infrastructure with efficient supply chain management from farm gate to retail outlet.
  • It will provide a big boost to the growth of food processing sector in the country.
  • It will help in providing better prices to farmers and is a big step towards doubling of farmers’ income.
  • It will create huge employment opportunities especially in the rural areas.
  • It will also help in reducing wastage of agricultural produce, increasing the processing level, availability of safe and convenient processed foods at affordable price to consumers and enhancing the export of the processed foods.

Food Processing Sector in India

Food Processing Sector has emerged as an important segment of the Indian economy in terms of its contribution to GDP, employment and investment. During 2015-16, the sector constituted as much as 9.1 and 8.6 percent of GVA in Manufacturing and Agriculture sector respectively.

The Union Government has taken various other measures to boost food processing sector as follows:

  • Allowed 100% FDI in trading including through e-commerce, in respect of food products manufactured and / or produced in India.
  • Set up a Special Fund of Rs. 2000 crore in NABARD to make available affordable credit at concessional rate of interest to designated food parks and agro processing units in the designated food parks.
  • Food and agro-based processing units and cold chain infrastructure have been brought under the ambit of Priority Sector Lending (PSL).
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