Scheme for the formalization of Micro Food Processing Enterprises (FME) | UPSC CURRENT AFFAIRS |

Scheme for the formalization of Micro Food Processing Enterprises (FME): Current Affairs 

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Scheme for the formalization of Micro Food Processing Enterprises (FME)

Relevance: Economy

Context: Minister for Food Processing Industries launched the PM Formalization of Micro Food Processing Enterprises (PM FME) scheme.

What is PM FME?

  • PM Formalization of Micro Food Processing Enterprises (PM FME) Scheme was launched as a part of “Atmanirbhar Bharat Abhiyan”.
  • It aims to provide financial, technical and business support for the up-gradation of existing micro food processing
  • It is a Centrally Sponsored scheme and will be implemented for five years from 2020-21 to 2024-25.
  • The expenditure under the scheme would be shared in 60:40 ratio between Central and State Governments, in 90:10 ratio with North Eastern and the Himalayan States, 60:40 ratio with UTs with the legislature and 100% by Centre for other UTs.
  • The scheme adopts One District One Product (ODOP) approach to reap the benefit of scale in terms of procurement of inputs, availing common services and marketing of products. The States would identify food product for a district keeping in view the existing clusters and availability of raw material.
  • Units producing other products would also be Support for common infrastructure and branding and marketing would be for ODOP products. The scheme also focusses on waste to wealth products, minor forest products and aspirational districts.
  • Under the scheme, the government said existing individual micro food processing units desirous of upgrading their units can avail credit-linked capital subsidy at 35 per cent of the eligible project cost with a maximum ceiling of Rs 10 lakh per unit.
  • Farmer producer organisations (FPOs)/ SHGs/ producer cooperatives would also be provided with a credit-linked grant of 35% for capital investment along the value chain.

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