MUMBAI: The cabinet committee on economic affairs has approved the proposal of the ministry of food processing industries for continuing the scheme of technology upgradation and modernization of food processing industries during the 12th plan (2013-17).
This is to meet the spillover liabilities of the proposals received in the ministry of food processing industries during 11th plan, i.e. upto March 31, 2012, under the scheme for an amount of Rs 740 crore during the 12th plan.
The scheme has been one of the most popular of the plan 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, according to a note by the ministry of food processing industries.
The above scheme envisages back ended subsidy by way of grant-in-aid. Their cases would be considered for sanction by continuing the scheme during 12th plan (2013-17) to clear the spillover liabilities of 11th plan.
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