New Delhi, Aug 2 (KNN) The Cabinet Committee on Economic Affairs has approved the proposal of continuing the scheme of technology upgradation, establishment and modernization of food processing industries for an amount of Rs 740 crore during the 12th Five Year Plan (2013-17).  

The Ministry of Food Processing Industries has received proposals to meet the committed and spillover liabilities during 11th Plan under the scheme.

“The Cabinet Committee on Economic Affairs has approved the proposal of the Ministry of food processing industries for continuing the scheme of technology upgradation, establishment, modernization of such industries during the 12th Plan (2013-17) to meet the committed and spillover liabilities…during the 11th Plan (upto March 31, 2012) for an amount of Rs 740 crore,” said the Ministry of Food Processing Industries today.     

The scheme has been one of the most popular schemes of the ministry. As a result, a large number of applications were received, which could not be accommodated within the allocated budget during the 11th Plan.

Therefore, the committed liabilities have arisen which are required to be met under the central sector by the ministry.

Further, the scheme envisages back ended subsidy by way of grant-in-aid. Their cases would be considered for sanction by continuing the scheme in the current plan to clear the committed liabilities of 11th Plan. (KNN/GUNJ)