SAMPADA Scheme – Govt. Sanctioned Rs. 6000 Crores

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SAMPADA Scheme

Today, the Central Government of India has approved the launch of a new scheme named ‘SAMPADA Scheme’ for the year 2016-17 with an investment of Rs 6000 Crores.

The main motto of this scheme is to boost the processing of marine and agriculture produce.

In this regard, a decision was taken at the Cabinet Committee on Economic Affairs (CCEA) meeting headed by PM Narendra Modi.

According to an official release, the CCEA has given its approval for restructuring the schemes of the Ministry of Food Processing Industries under new central sector scheme SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) for the period 2016-20.

The new scheme has an allocation of Rs 6,000 crore. It will help in generating an investment of Rs 31,400 crore and facilitate handling of 334 lakh tons of agro-produce valuing Rs 1,04,125 crore.

This is expected to benefit 20 lakh farmers and create about 5,30,500 direct and indirect employment.

The Finance Minister Arun Jaitley said that the main aim of SAMPADA is to supplement agriculture, modernize processing and decrease agri-waste,” Finance Minister Arun Jaitley said after the meeting.

SAMPADA is an umbrella scheme incorporating ongoing schemes like Mega Food Parks, Integrated Cold Chain and Value Addition Infrastructure, Food Safety and Quality Assurance Infrastructure, and others.

It also includes new schemes like infrastructure for agro-processing clusters, the creation of backward and forward linkages, creation/expansion of food processing and preservation capacities.

According to the statement, the SAMPADA will give a thrust to the food processing sector and help in providing better prices to farmers and achieve the government’s target to double farmers income by 2022.

During 2015-16, the food processing sector contributed 9.1 and 8.6 per cent of gross value added (GVA) in manufacturing and agriculture sector, respectively. LUX NKD MJH MR

News Source: http://timesofindia.indiatimes.com/business/india-business/cabinet-okays-rs-6000-cr-scheme-for-food-processing-sector/articleshow/58529131.cms

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