Agro & Food Processing - #SectorUpdates
The agriculture sector has long been dominated by middlemen who reap profits at the expense of farmers. Pradhan Mantri Kisan Sampada Yojana (PMKSY) can save India from this trend by creating integrated cold chain and preservation infrastructure facilities. Under the scheme, the Ministry also provides credit linked financial assistance in the form of grants-in-aid to stakeholders for setting up of food processing industries and/or units. Besides giving a boost to the food processing industry in India, the PMKSY will also ensure a better return for farmers and help in doubling their income, creating vast employment opportunities, reducing wastage of agricultural produce, and enhancing exports of processed foods. Under the PMKSY special thrust has been given to develop food processing sector in the North Eastern region (NER) with a separate budget of INR 140 CR. However the region finds it difficult to come out with practical and bankable proposals. Thus, the need of the hour is to motivate the local entrepreneurs to come up with good ideas and attractive proposals for necessary approvals from the Ministry and banks.