Scheme for Technology Up-gradation/Establishment/Modernization of Food Processing Industries
Up-gradation/Establishment/Modernization of Food Processing Industries
The Scheme provides grant of financial assistance 25% of the cost of plant & machinery and technical civil works subject to a maximum of Rs.50 lakh. Only new Plant & Machinery are eligible.
Coverage Under The Scheme
Sectors in food processing such as fruits & vegetables, milk products, meat, poultry, fishery, cereal/other consumer food products, oilseeds products, rice milling, flour milling, pulse processing and such other agri horticultural sectors including food flavours and colours, oleoresins, spices, coconut, mushrooms and hops will be covered under the Scheme.
Activities Not Covered
Aerated water, packaged drinking water and soft drinks are not considered for financial assistance under the Scheme.
Disbursement of Grant
The financial assistance is released in two equal installments. The first installment is released after the firm has utilized 50% of the term loan and 50% of promoter's contribution. The second installment of the grant is released on production of Utilization Certificate by the unit in form prescribed.