Pradhan Mantri Formalisation Of Micro Food Processing Enterprises Scheme
The Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Scheme, launched on June 29, 2020, as part of the Atmanirbhar Bharat Abhiyan, is a central sector scheme with a ₹10,000 crore outlay to upgrade micro-food units. It offers a 35% subsidy on project costs (up to ₹10 lakh) for individual, SHG, and FPO-based enterprises to enhance competitiveness
Key details of the PMFME scheme include:
Target Group: Unorganized, individual micro-enterprises, Farmer Producer Organizations (FPOs), Self Help Groups (SHGs), and Producer Cooperatives.
Financial Assistance: A 35% capital subsidy for upgrading or setting up new units, with a maximum limit of ₹10 lakh.
Seed Capital: ₹40,000 per member provided to SHGs engaged in food processing.
Focus Area: Emphasizes the One District One Product (ODOP) approach to leverage local agricultural products.
Goal: Formalize, provide technical support, and improve branding/marketing for micro-enterprises.
Implementation: The cost is shared between the Central and State governments, typically in a 60:40 ratio