Deputy Commissioner Dr. Preeti Yadav on Tuesday inaugurated an awareness camp for ‘PM Formulization of Micro Food Enterprises (PM FME) and Agriculture Infrastructure funds Scheme.
This camp has been organized by UCO Bank where in over 80 Farmers, Micro Enterprises, FPOs, Self Help Groups and Bankers have participated. The District State Officers of concerned Department, including Chief Agriculture Officer, Horticulture Development Officer, GM District Industries Center etc. also attended the event.
Attending the seminar Deputy Commissioner said that she would review the outcome of the camp after 20 days by inviting all the participants. She directed Punjab Agro to ensure that 50% of the applications from these enterprises are successfully processed by that time.
She also directed that the concerned District Incharge of District Industries Center, Horticulture, Agriculture, Fisheries, Animal Husbandry to rope-in at least 25 enterprises each to avail benefits of these schemes.
Mr. Ghanshyam Parmar, DGM & Zonal Head, UCO Bank, briefed the participants about the importance of these two schemes and the willingness of banks particularly UCO banks to support Enterprises/Farmers to take benefit of these schemes.
He further informed, they have 12 branches in the districts and all of them are prepared and ready to consider and approve applications under these scheme.Mr. Rajnish Tuli, General Manager, Department of Food Processing made an elaborate presentation on PM FME Scheme explaining the nitt –gritty of PMFME Scheme.
He also informed that his role is to mobilize enterprises and facilitate sanction of loan/subsidy. Otherwise, the district has an immense potential to rope-in micro enterprises. The scheme offers credit linked capital subsidy @ 35%, maximum Rs. 10 lakh on eligible project cost.
Under group category, the upper cap of the subsidy is Rs. 3 Cr. The groups like FPOs, SHGs, Cooperative Socities and Government Agencies can apply under this category.
Mr. Ramesh Chand Thakur, National Lead Project Manager, Ministry of Food Processing Industries informed that in order to extend the benefit of the scheme, GoI has relaxed the restriction of ODOP for new entrepreneurs i.e. they can setup any food processing unit including Animal Feed in district.
He suggested that Punjab Agro in collaboration with Banks may organize such camps more frequently in the district. He further informed that loan up to Rs. 10 lakhs is free from any collateral security or guarantee fee.
He also mentioned that overall Punjab is doing excellent in comparison to other States/UTs. The scheme allows top-up benefit by availing interest subvention of the loan amount under Agriculture Infrastructure Fund.
Minni Mittal of Project Management Unit of Dept. of Horticulture explained the benefits and modalities of Agriculture Infrastructure Fund. She informed that almost all the processing activities except milk processing covered of PM FME Scheme are eligible to apply under AIF for interest subvention of 3%.