MOFPI, in association with the Ministry of Housing and Urban Affairs, virtually launched the PMFME Scheme Seed Capital Module | Daily Current Affairs 2021
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MOFPI, in association with the Ministry of Housing and Urban Affairs, virtually launched the PMFME Scheme Seed Capital Module

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PMFME Scheme Seed Capital Module

PMFME Scheme Seed Capital Module: The Ministry of Food Processing Industries (MoFPI), Government of India (GoI), in association with the Ministry of Housing and Urban Affairs (MoHUA) recently launched the Seed Capital Module on Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) MIS Portal.

Highlights:

  • The Seed Capital Module has been launched virtually under the Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME) Scheme, for seed capital assistance to members of urban Self Help Groups working in the food processing sector in India.
  • The PMFME Scheme aims to enhance the competitiveness and promote formalization of the unorganized micro—food processing enterprises in India.
  • The scheme aims to empower the self-help groups by:
  • Seed capital support of Rs.40, 000 per SHG member.
  • Credit linked subsidy for capital investment up to 35% with a ceiling of Rs. 10 lakh.
  • Credit linked grant support up to 35% for establishing common infrastructure.
  • Handholding support for DPR preparation.
  • Capacity building and training support.

About the PMFME Scheme:

  • The PMFME Scheme is a centrally sponsored scheme which has been launched under the Aatmanirbhar Bharat Abhiyan.
  • This scheme aims to enhance the competitiveness of existing individual micro-enterprises in the unorganized segment of the food processing industry and promote formalization of the sector and provide support to Farmer Producer Organizations, Self Help Groups, and Producers Cooperatives along their entire value chain.
  • With an outlay of Rs.10,000 crore over a period of five years from 2020-21 to 2024-25, the scheme envisions to directly assist the 2,00,000 micro food processing units for providing financial, technical, and business support for upgradation of existing micro food processing enterprises.

Source: PIB

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