Union Minister Harsimrat Kaur Badal launches Pradhan Mantri Scheme for Formalization of Micro Food Processing Enterprises

The Union Minister of Food Processing Industries, Harsimrat Kaur Badal formally launched Pradhan Mantri Scheme for Formalization of Micro Food Processing Enterprises as a part of Atma Nirbhar Bharat Abhiyan on 29 June 2020.
The scheme aims to enhance the competitiveness of the existing individual micro enterprises by increasing their access to credit, modern technologies among other things.
Salient Features of the scheme
- The All India Centrally Sponsored Scheme has an outlay of Rs.10,000 crore for 5 years from 2020-21 to 2024-25
- Provide employment to about nine lakh skilled and semi-skilled workers.
- Cover 2,00,000 enterprises
- Expenditure will be shared by Government of India and States at 60:40
- About Rs. 35,000 cr investment is expected under the programme.