833 FPIs functioning in NE

Shillong, Dec 19 (UNI) The Union Ministry of Statistics and Programme Implementation has found that only 833 food processing industries are functioning of the 929 factories, ministry official said today.

Official sources said Ministry of Food Processing Industries has taken steps for promotion of food processing industries, providing financial assistance for setting up expansion and modernisation of food processing industries.

Assistance is provided in the form of grant-in-aid subject to 25 per cent of the cost of plant&machinery and technical civil works up to Rs 50 lakh in General Areas and 33.33 per cent upto Rs 75 lakhs in Difficult areas including North Eastern Region, the official sources said.

Further, the sources said higher rate of assistance (credit linked, back ended) for Fruit&Vegetable processing units at the rate of 50 per cent of the capital cost for setting up, expansion and modernization is available under Mini Mission IV of Technology Mission for Development of Horticulture in North Eastern States, Sikkim, Jammu&Kashmir, Himachal Pradesh and Uttaranchal.

He said a special legislation namely, the Sick Industrial Companies (Special Provision) Act 1985, was enacted by the centre, with the main objective inter-alia, to determine sickness and expedite the revival of potentially viable units.

The assistance provided by the Ministry of Food Processing Industries helps in improving the overall financial viability of the assisted units by addressing problems such as availability of raw materials, marketing of products, suitable technology for production and human resource development.

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