Cabinet approves Rs 1,920 cr extra budget allocation for PMKSY scheme

New Delhi: The Union Cabinet on Thursday raised budgetary outlay for the flagship scheme Pradhan Mantri Kisan Sampada Yojana (PMKSY) by Rs 1,920 crore to Rs 6,520 crore to boost the food processing sector.

The enhanced funds, to be provided this fiscal, will be utilised for 50 multi-product food irradiation units and 100 food testing labs.

The decision in this regard was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.

"The outlay of PMKSY has been increased to Rs 6,520 crore," I&B Minister Ashwini Vaishnaw told reporters after cabinet decisions.

PMKSY, launched in 2017, was extended for one more year till the end of the current 2025-26 fiscal with an allocation of Rs 4,600 crore.

Now, the Cabinet has decided to enhance the allocation by Rs 1,920 crore to implement the budget announcement for the food processing sector.