Online Courses (English)
This just in:

State PCS

Daily Updates

Governance

Pradhan Mantri Kisan Sampada Yojana

  • 29 Feb 2020
  • 3 min read

Why in News

32 projects have been sanctioned under the Pradhan Mantri Kisan Sampada Yojana (PMKSY) of the Ministry of Food Processing Industries (MoFPI).

  • The projects are spread across almost 17 States, leveraging an investment worth ₹406 crores.
  • These projects envisage the creation of direct and indirect employment, especially in rural areas.

Key Points

  • Food processing plays an important role in connecting Indian farmers to domestic and international consumers and markets.
    • The introduction of modern processing techniques for food results in improved shelf-life of the agricultural produce and ensures steady revenue to farmers.
  • The processed food market is expected to grow to $543 billion by 2020 from $322 billion in 2016, at a Compound Annual Growth Rate (CAGR) of 14.6%.

Compound Annual Growth Rate

  • CAGR is the mean annual growth rate of an investment over a specified period of time longer than one year.

Pradhan Mantri Kisan SAMPADA Yojana

  • In 2016, MoFPI introduced an umbrella Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters or SAMPADA, which was proposed to be implemented with an allocation of ₹6,000 crores for the period of 2016-20.
  • In 2017, SAMPADA was renamed as the Pradhan Mantri Kisan Sampada Yojana (PMKSY).
  • It is a Central Sector Scheme.
  • Objectives:
    • To supplement agriculture.
    • To create processing and preservation capacities.
    • To modernise and expand existing food processing units with a view to increasing the level of processing.
    • To add value leading to the reduction of wastage.
  • Seven component schemes under PMKSY:
    • Mega Food Parks.
    • Integrated Cold Chain and Value Addition Infrastructure.
    • Infrastructure for Agro-Processing Clusters.
    • Creation of Backward and Forward Linkages.
    • Creation/Expansion of Food Processing & Preservation Capacities.
    • Food Safety and Quality Assurance Infrastructure.
    • Human Resources and Institutions.
  • Under PMKSY, capital subsidy in the form of grants-in-aid ranging from 35% to 75% of the eligible project cost subject to a maximum specified limit is provided to investors under the various schemes for undertaking infrastructure, logistic projects and setting up of food processing units in the country.

Source: PIB

SMS Alerts
 

Please login or register to view note list

close

Please login or register to list article as bookmarked

close
 

Please login or register to make your note

close

Please login or register to list article as progressed

close

Please login or register to list article as bookmarked

close