Rs 84,094 crores invested in food processing units across the country

NEW DELHI: Around Rs 84,094 crores are invested in the 25,367 registered food processing units in the country. Citing figures from the competitiveness report of the National Manufacturing Competitiveness Council here, MoS for food processing Charan Das Mahant told Lok Sabha today that from 2007-08, the receipt of applications, their appraisal, calculation of grant eligibility as well as disbursement of funds have been completely decentralized.

Under the new procedure, an entrepreneur/ applicant can file application with the neighborhood Bank branch/ Financial Instituition (FI). The Bank/ FIs would then appraise the application and calculate the eligible grant amount as per the detailed guideline given to them by the ministry.

The Banks/ FIs appraise project and its recommendation for the release of grant is transmitted to the Ministry through e-portal established for this purpose. After the recommendation and requisite documents are received from the Bank/ FIs, the Ministry sanctions the grant and transfers the funds through the e-portal. The task of maintaining and compilation of data through e-portal has been assigned to HDFC Bank.

Updated data is received from HDFC Bank from time to time and the same is put on ministry’s website in public domain, the minister said in a written reply to a question on the subject.