The Pradhan Mantri Micro Food Industry Upgradation Scheme, which aims to establish food processing factories in all 8387 panchayats of the state, has officially begun, according to Pankaj Dixit, director of the Bihar Factories Department. The District Industries Center’s General Manager has been given this duty by the Industries Department.
The state government will provide entrepreneurs building up food processing enterprises with several forms of help. They will receive services like loans and subsidies. The District Industries Centre will choose business owners and evaluate their initiatives for this.
This will result in a significant increase in the usage of agriculturally based goods in the state’s food processing industry, as well as the empowerment of jobless young through self-employment. Migration to the neighbouring areas will be halted by the promotion of food processing enterprises.
According to departmental sources, the program would also encourage loan applications to launch new businesses under PM-FME, allowing interested candidates to get financial support from the bank to launch new businesses.
Additionally, qualifying individuals can upgrade existing units with credit-linked capital subsidies of up to Rs. 10 lahks per unit, or 35 percent of the project cost.
The central government will offer financial support through this program to all those looking to begin new careers in the food business.