The Union Cabinet has given its approval to a new Centrally Sponsored Scheme – “Scheme for Formalization of Micro food processing Enterprises (FME)” for the Unorganized Sector on All India basis.
It envisages increased access to credit by existing micro food processing entrepreneurs, women entrepreneurs and entrepreneurs in the Aspirational Districts.
It will have Cluster approach and will focus on perishables commodities.
It will be implemented over a 5-year period from 2020-21 to 2024-25.
It is a Centrally Sponsored Scheme (CSS).
Expenditure for this is to be shared by Government of India and States at 60:40.