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Government to set up NBFC with Rs.2000 Crore for Food Processing Industry
Krishi VaartaKrishi Jaagran
Government to set up NBFC with Rs.2000 Crore for Food Processing Industry
The government is planning to set up a non-banking financial company (NBFC) with an initial amount of Rs 2,000 crore to support the Food Processing Industries as part of its effort to boost this sector as well as double farmer’s income, Union Cabinet Minister for Food Processing Harsimrat Kaur Badal said on 30 November.
Addressing a CII event, Union Cabinet Minister for Food Processing Ms Harsimrat Kaur Badal said the Government has inaugurated 15 mega food parks in last four and half years out of 42 sanctioned, in contrast to mere 2 parks between 2008 and 2014. “We are setting up a fund for lending to food processing industries,” she said at the event. On the sidelines, the Minister said that she would hold consultation with the finance ministry on setting up of this NBFC. The proposal would also be put before the Cabinet for approval. Source - Krishi Jaagran, 1 December 2018
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