Central government is going to launch Pradhan Mantri Gram Samriddhi Yojana 2021 to create jobs in mico food processing sector in India. PM Gram Samridhi Yojana 2021 would focus on employment generation in the next 5 years. All the unemployed candidates especially farmer’s children does not have to look for employment elsewhere.
Under PM Gram Samridhi Yojana 2021, small farmers would be facilitated to create upto 70,000 micro food processing units in the country. The capital investment to be less than Rs. 10 lakh for each unit. Through this scheme, farmers would turn into job creators rather than becoming job seekers.
The primary focus is on creating jobs in the sector, setting up a non-banking finance company (NBFC) to fund food processing units, push for National Food Processing policy and organizing World Food India event on a much larger scale.
PM Gram Samridhi Yojana 2021 – Complete Details
The important features and highlights of Pradhan Mantri Gram Samridhi Yojana are as follows:-
- The central govt. was already working on PM Gram Samriddhi Yojana with World Bank which is now going to be launched soon.
- PM Gram Samridhi Yojana will focus on micro enterprises with capitalization of less than Rs. 10 lakh rupees.
- The main objective is to target small farmers. The central govt. will facilitate creation of 60 to 70 thousand such units within a short time.
- The pilot project would be done in 4 states namely Andhra Pradesh, Uttar Pradesh, Maharashtra, Punjab and initiative will be expanded subsequently.
- PM Gram Samridhi Yojana aims at development of modern infrastructure to encourage entrepreneurs to set up food processing units, upgrade technology in existing unit, improve management of the units and give technical support.
The Indian govt. would also focus on getting NBFC funds for the food processing sector and to give a push to the National Food Processing Policy. World Bank will be giving Rs. 1,500 crore while Rs. 1,000 crore will be borne by the centre while state governments will put in Rs 500 crore, totalling it to Rs. 3,000 crore.
Objectives of Pradhan Mantri Gram Samridhi Yojana
Pradhan Mantri Gram Samridhi Yojana also aims to provide common facility centres and business incubators in rural areas. The incubator will provide infrastructure and services to support the growth of new food businesses. It will provide equipment and programs to help a businessmen or an entrepreneur launch a new product through development, market launch and growth in sales.
Union govt. would also focus on giving boost to food processing sector in the North East. This area has a tremendous potential and it is going to be one of the focused geographies.
Launch of Pradhan Mantri Gram Samriddhi Yojana
Pradhan Mantri Gram Samridhi Yojana will boost the unorganized food processing sector concentrated in rural areas. Around 66% of the unorganized food processing units are in rural areas and 80% are family run. This is a 3,000 crore scheme which is to be funded by the World Bank.
The central govt. is going to help cottage industry, farmer producer’s organization and individual food processors. The primary objective of Gram Samridhi Yojana is to increase capacity, upgradation of technology, skill improvement, entrepreneurship development and strengthening of farm to market supply chain.
Loans under PM Gram Samridhi Yojana
Through PM Gram Samridhi Yojana, central govt. would encourage cottage and small enterprise to process local produce, package and market it. The maximum ceiling of subsidy which is to be given will be Rs. 10 lakh in addition to the interest subsidy in case they avail loans. Moreover, there is a provision of getting subsidy on bank interest by 3% to 5%.
The central govt. is going to run this scheme at the cluster level where all the food processing units or individual players can apply for subsidy online. Gram Samridhi Scheme aims to develop modern infrastructure to encourage entrepreneurs to setup food processing units, up-gradation of technology in the already existing unit, improve management of units and to provide technical support. This scheme also focuses on providing common facility centers and business incubators in rural areas.
To assist the growth of new food businesses, the incubator is going to provide infrastructure and services. This scheme will provide equipment and programs to help businessmen / entrepreneur launching a new product through development, market launch and growth in sales.
Around Rs. 1,500 crore would be provided by the World Bank while Rs. 1000 crore and Rs. 500 crore would be borne by the central and state govt. respectively. In the initial phase, Gram Samridhi Yojana would be run in the Uttar Pradesh, Andhra Pradesh, Maharashtra and Punjab for a 5 year period and thereafter replicated in other states.