Consider the following statements about food processing sector ndash 1 Speciali...........

Economic Affairs Food Processing

Consider the following statements about food processing sector –

1. Specialized Agro Processing Financial Institutions to be set up is envisaged by Budget 2018-19.

2. Pradhan Mantri Kisan Sampada Yojana (PMKSY) incorporates all ongoing schemes of the Union Ministry of Food Processing Industries.

Which of the above statement/s is/are correct?

1 only

2 only

Both are correct

None is correct

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Explanation:

PMKSY is an umbrella scheme which incorporates all ongoing schemes of the Union Ministry of Food Processing Industries (MoFPI). It includes MoFPI’s schemes such as Mega Food Parks, Food Safety and Quality Assurance Infrastructure, Integrated Cold Chain and Value Addition Infrastructure, etc.
Specialized Agro Processing Financial Institutions to unlock finance for food processing industries will be set up as envisaged by Budget 2018-19. These institutions would help overcome the deterrents faced while installing food processing projects that are capital intensive and have long gestation period, by ensuring timely, accessible and affordable credit to this sector.