The Indian government on Monday launched a Rs 10,000 crore scheme for micro enterprises which offers 50% subsidy for storage and transportation to prevent distress sale by farmers.
The scheme, called Pradhan Mantri Formalisation of Micro Food Enterprises (PM FME), aims to bring in new technology, apart from affordable credit to help small entrepreneurs penetrate new markets.
The scheme will be implemented for five years until 2024-25. It will generate investment of Rs 35,000 core, generate 900,000 jobs and help 800,000 units.
Under the PM FME scheme, micro enterprises will get 35% subsidy on project cost, with a ceiling of Rs 10 lakh. The beneficiaries will have to contribute at least 10% of the project cost while the balance will come from loans. Nearly 200,000 micro enterprises will get credit-linked subsidy support.
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Govt launches PM FME scheme to help micro food processing enterprises
New Delhi: The government on Monday launched a Rs 10,000 crore scheme for micro enterprises which offers 50% subsidy for storage and transportation to prevent distress sale by farmers.
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