If you want to set up a small business of food processing, the govt is offering a subsidy of Rs 10 lakhs...
The Scheme is called the PMFME - PM’s Formalization of Micro Food Processing Enterprises...
You just need to contribute 10% of the project cost, while the balance 90% can be taken as a loan...
From the total cost of the project, up to 35%, maximum up to Rs 10 lakhs, shall be paid by the govt as a subsidy.
If you club the benefits of this scheme with those under CGTMSE, you don’t even need to give a property as collateral to the bank, and a discount on interest rate of up to 3% may be available under the Agri Infra Financing Scheme.
Out of the 250k applications, ~36% have already been approved, and ~28% have started receiving the funds under the scheme.
The application can be made under pmfme.mofpi.gov.dot.in
The scheme is only for food processing or small scale manufacturing and not for retailers and wholesalers.
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A Chartered Accountant with about 10 years of experience in areas of Tax Advisory, Startup Consulting, Fundraising, Audits, Deal Advisory, Business Modelling and contract CFO services.
Winner of the ISB Young Leader Award 2017 and the Best All Rounder, PGP Class of '17, Sarthak has also been published about in the leading financial newspapers such as The Financial Express as possibly the youngest Indian to have completed the courses of CA, CS and CMA along with a graduate degree in Financial & Investment Analysis from University of Delhi, all by the age of 23 years.
Sarthak Ahuja