The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Central Sector Scheme – “Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)” with an outlay of Rs10,900 cr.
Daily Current Affairs Quiz 2021
The scheme is approved to support the creation of global food manufacturing champions commensurate with India’s natural resource endowment and support Indian brands of food products in the international markets.
The objectives of the Scheme are to support food manufacturing entities with stipulated minimum Sales and willing to make minimum stipulated investment for expansion of processing capacity and Branding abroad to incentivise emergence of strong Indian brands.
The scheme will be rolled out on All India basis.
The scheme shall be implemented through a Project Management Agency (PMA). The Scheme would be monitored at Centre by the Empowered Group of Secretaries chaired by the Cabinet Secretary.
The duration of the scheme will be six years i.e., 2021-22 to 2026-27. The incentive under the scheme would be paid for six years ending 2026-27.
The scheme is “fund-limited”, i.e., cost shall be restricted to the approved amount.
