Business News | One Lakh SHG Members Identified, Capital Worth Rs 203 Cr Released Under PMFME Scheme

New Delhi [India], July 1 (ANI): Over one lakh self-help group members have been identified under the Pradhan Mantri Formalisation of Micro Food Processing Enterprises Scheme, and a seed capital worth total Rs 203 crore has been released so far.

The Ministry of Food Processing Industries launched this scheme under the 'Atmanirbhar Bharat Abhiyan' in June 2020 with the purpose to strengthen the competitiveness of micro-enterprises in the unorganized parts of the food processing industry, while at the same time promoting its formalization.

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The scheme was targeted to be implemented over a period of five years from 2020-21 to 2024-25 with a total expenditure of Rs 10,000 crore.

The scheme has now completed two years, and has witnessed several advancements towards empowering micro-enterprises.

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According to an official statement, an approximate 50,000 applicants have registered on the portal and more than 25,000 applications have been successfully submitted so far.

State-level marketing support has also been witnessed in the form of the brand "AASNAA" from the State of Punjab and the brand "BHIMTHADI" from the State of Maharashtra, the statement said.

A digital Geographical Information System has also been developed to provide details of One District One Product scheme. This map indicates tribal, SC, ST, aspirational districts and incubation centres that have been approved under the PMFME scheme.

Such mapping may prove to be beneficial for making concerted efforts towards rural development.

A series of success stories is being published, which will feature the inspiring stories of micro enterprises and Self Help Groups in the food processing sector, thereby creating awareness about the opportunities in this sector and encouraging aspiring entrepreneurs to apply under the scheme, the statement further said. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)