11 Sep :The Cabinet Committee on Economic Affairs today gave its approval for the implementation of the scheme for establishment of 10 Mega Food Parks in the first phase out of thirty mega good parks envisaged for the Eleventh Five Year Plan with pattern of assistance
(grant-in-aid) @ 50% of the project cost in general areas and 75% for North-East Region and difficult areas subject to maximum of Rs.50 crore for creation of common infrastructure facilities and facilities for backward/forward linkages, with a total grant-in-aid of Rs.500 crore and Rs.25 crore towards project management fees @ 5% of the grant.
The Scheme of infrastructure development envisages to raise the level of processing, value Addition and reduction of the wastage of perishables viz. Horticultural produce, live stock, marine, dairy etc. during the XI plan period and to meet the targets of the Vision 2015 of the Ministry of Food Processing. The Scheme would help the food processing industry grow and realize its potential and would also lead to greater share in the world food trade.