Cabinet Approves INR10,900 Crore Incentive Scheme For Food Processing Sector

The Cabinet has approved a production-linked incentive scheme to improve exports and increase food processing capability, resulting in processed food output worth Rs 33,494 crore.The government approved a production-linked incentive (PLI) scheme for the food processing industry on Wednesday, with a budget of Rs 10,900 crore. The scheme was approved by the Union Cabinet, which is chaired by Prime Minister Narendra Modi, and will help create 2.5 lakh jobs, improve exports, and encourage the expansion of food processing capacity to generate processed food production worth Rs 33,494 crore by 2026-27.The scheme's bonus will be charged for six years, finishing in 2026-27. "The PLI for the food processing sector has been accepted, with an incentive of Rs. 10,900 crore. The choice is an apt tribute to our farmers "While briefing the media on cabinet decisions, Food Minister Piyush Goyal said.