With reference to Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME), consider the following statements

1. It is a Centrally Sponsored Scheme launched by the Ministry of Food Processing Industries (MoFPI).
2. It enables the existing individual micro food processing units to avail credit-linked capital subsidy at 35% of the eligible project cost for upgrading their units.

Select the correct statement.

The Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME) is a centrally sponsored scheme with an outlay of Rs. 10,000 crore.

• The Ministry of Food Processing Industries (MoFPI) is the nodal ministry for the implementation of the scheme.
• The expenditure under the scheme would be shared in 60:40 ratio between Central and State Governments, in 90:10 ratio with North Eastern and Himalayan States, 60:40 ratio with UTs with legislature and 100% by Centre for other UTs

Financial Assistance Provided by the Scheme

• Upgradation of Individual Micro Food Processing Units: Existing individual micro food processing units desirous of upgrading their units can avail credit-linked capital subsidy at 35% of the eligible project cost with a maximum ceiling of Rs.10 lakh per unit.
• Seed Capital to SHG: Initial funding of Rs. 40,000- per Self Help Group (SHG) member would be provided for working capital and purchase of small tools.

Hence both statements are correct.

By: Shubham Tiwari