Over 84,000 Crores Invested in Food Processing Sector
As per the competitiveness report of the National Manufacturing Competitiveness Council, there are 25, 367 registered food processing units in the country whose total invested capital is Rs. 84,094 crores. From 2007-08, the receipt of applications, their appraisal, calculation of grant eligibility as well as disbursement of funds have been completely decentralized. Under the new procedure, an entrepreneur/ applicant can file application with the neighborhood Bank branch/ Financial Instituition (FI). The Bank/ FIs would then appraise the application and calculate the eligible grant amount as per the detailed guideline given to them by the Ministry. The Banks/ FIs appraise project and its recommendation for the release of grant is transmitted to the Ministry through e-portal established for this purpose. After the recommendation and requisite documents are received from the Bank/ FIs, the Ministry sanctions the grant and transfers the funds through the e-portal. The task of maintaining and compilation of data through e-portal has been assigned to HDFC Bank
Updated data is received from HDFC Bank from time to time and the same is put on Ministry’s website in public domain.
This information was given by the Minister of State for Food Processing Industries, Dr. Charan Das Mahant in a written reply in the Lok Sabha today.
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