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Mint Explainer: Why The Centre Wants To Extend Its ₹10,000 Crore Food-Processing Scheme
(MENAFN- Live Mint) The Ministry of Food Processing Industries has sought a five-year extension for its flagship ₹10,000 crore Pradhan Mantri Formalization of Micro Food Processing Enterprises (PMFME) scheme. Mint explains why the government wants to extend the scheme, launched in FY21, and how more financing could help micro enterprises.What is PMFME?
Launched on 29 June 2020 as a centrally sponsored scheme, PMFME was allocated ₹10,000 crore for FY2020-25. The scheme was later extended through FY2025-26 and subsequently continued until 30 September 2026.
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