'Allocate more funds for food processing biz'

Alleging minimal budgetary allocation to state food processing industry, Karnataka Agriculture Minister Krishna Byregowda on Thursday demanded that budgetary allocation to the state be enhanced to a minimum of Rs 100 crore per year or to the extent of project proposals received in a year, whichever is higher.

Addressing a review meeting of National Mission on Food Processing (NMFP) and other central sector schemes of the Ministry of Food Processing Industries (MoFPI), organised jointly by MoFPI and Assocham, the minister said, “Considering the vast potential of the food processing sector, the budgetary allocation of Rs 770 crore made for MoFPI programmes is meagre (0.16 per cent), considering the total Plan outlay (Rs 4,84,532 crores) of the Union Government.”

Byregowda further suggested increasing the capital subsidy for establishing warehouses and cold storages.

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