New Delhi: The Union Cabinet on Wednesday gave its final nod for the production linked incentive (PLI) scheme for the food processing sector.
Under this scheme, incentives worth Rs 10,900 crore will be provided for the food processing industry over a period of six years.
Read:| Modi addresses webinar to discuss PLI schemes
Briefing reporters after the Cabinet meeting, commerce minister Piyush Goyal has said that the scheme would generate nearly 2.5 lakh jobs.
In fact, the Cabinet gave its in-principle approval to this proposal last November.
Read:| 5,000 farmers to reap benefit from Organic Food Processing Unit in UP
The Union Budget 2021-22 announced that the PLI scheme would cover 13 sectors including automobiles, pharmaceuticals and telecom equipment among others. For this, the government has allocated Rs 1.97 lakh crore over a five year period starting FY 2021-22.
The PLI scheme was launched last year as part of the Aatma Nirbhar Bharat campaign to make India a valuable part of the global supply chain.
Read:| Food Processing Ministry launches PM FME scheme to generate Rs 35,000 cr investment, 9 lakh jobs
