Prelims: Current events of national and international importance.
Why in news?
Bihar has secured the first position in India for successfully implementing the PMFME scheme in the financial year 2024-25.
- PMFMPE – It is a Centrally Sponsored Scheme designed to address the challenges faced by the micro-enterprises.
- Launch – June 2020
- Nodal ministry – Ministry of Food Processing Industries.
- Objectives – To support Farmer Producer Organizations (FPOs), Self Help Groups (SHGs), and Producers Cooperatives along their entire value chain.
- To support upgradation and formalization of these enterprises.
- To promote the unorganized sector of the food processing industry and enhance competition.
- Support for Common Infrastructure – It includes infrastructure such as warehouse, cold storage and common processing facility for processing of ODOP produce.
- Convergence framework – The Food Processing Enterprises would be eligible for benefits under the various Government Schemes such as,
- Start-up Village Entrepreneurship Programme (SVEP)
- National Rural Livelihood Mission
- PM MUDRA Yojana and others
- Branding and marketing support – It includes marketing training, standardized common branding and packaging, tie-ups with retail chains and state institutions, and quality control to meet required standards.
- Financial assistance – The scheme provides financial assistance through subsidies with 35% of their project cost.
- The Financial assistance is eligible for,
- Farmer Producer Organization (FPO)
- Self-Help Groups
- Co-operatives
- Existing Individual Micro Food Processing Entrepreneurs
- New Units, whether for individuals or groups would only be supported for One District One Product (ODOP).
- Beneficiaries must contribute at least 10% of the project cost, with total investment including working capital up to 20%.
- Bihar has topped the implementation of the scheme with 10,296 applicants has been approved for loan.
- It will promote industries, employment and community-driven enterprises, especially in agrarian districts of Bihar.
References
- The Times of India| Bihar tops implementation of PMFME scheme
- My Scheme| PMFMPE Scheme
