The government on Wednesday approved a production-linked incentive (PLI) scheme for the food processing sector, entailing an outlay of Rs 10,900 crore.
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the scheme which will help create 2.5 lakh jobs, boost exports and ensure availability of a wider range of value-added products for consumers.
“The PLI for the food processing sector with Rs 10,900 crore incentive has been approved. The decision is a fitting tribute to our farmers,” Food Minister Piyush Goyal said while briefing the media about the cabinet decisions.
Information and Broadcasting Minister Prakash Javadekar said that the government in the Budget had announced PLI scheme for 12-13 sectors. PLI has been announced for six sectors already.
“Today, PLI for the food processing industries has been approved,” he said.
This will boost production of value-added food products, attract foreign investment, create job opportunities besides benefiting farmers with remunerative prices for the produce, he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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