The Government has allocated ₹4,364.22 crore to the Ministry of Food Processing Industries for FY 2025-26, up from ₹3,290 crore announced for 2024-25. Key allocations include ₹903 crore for the Pradhan Mantri Kisan Sampada Yojana and ₹1,200 crore for the Production Linked Incentive scheme.
The Government has allocated ₹4,364.22 crore to the Ministry of Food Processing Industries in the Union Budget for the fiscal year 2025-26, marking an increase from the ₹3,290 crore announced for 2024-25. In the fiscal year 2024-25, the interim budget raised the ministry’s allocation to ₹3,290 crore, up from the revised estimate of ₹2,912 crore for 2023-24.
For the Central sector scheme, Pradhan Mantri Kisan Sampada Yojana, ₹903 crore has been allocated for 2025-26, an increase from the revised allocation of ₹630 crore in the previous year. Likewise, the Production Linked Incentive (PLI) scheme has received a budgetary boost to ₹1,200 crore, compared to ₹700 crore in the revised allocation for 2024-25.
A key highlight of the Union Budget 2025-26 is the establishment of a National Institute of Food Technology, Entrepreneurship, and Management (NIFTEM) in Bihar, along with the formation of a Makhana Board. According to the Ministry, this initiative aims to drive growth in the food processing sector by promoting innovation, entrepreneurship, and skill development across the Eastern region.
The food processing industry plays a crucial role in boosting farm income, generating employment, and minimizing post-harvest losses in agriculture and allied sectors through targeted investments in preservation and processing infrastructure, both on and off the farm.
You must be logged in to post a comment.
Stay ahead in the dynamic world of trade and commerce with India Business & Trade's weekly newsletter.