Hyderabad: The Cabinet has decided to set up large-scale food processing units in the state in the wake of rising grain yields. It has decided to set up at least 10 zones across the state in the first phase. The Cabinet directed the authorities to take steps to set up 10,000 acres across the state by the year 2024-2025.
With an investment target of Rs 25,000 crore
The state cabinet has decided to attract an investment of about Rs 25,000 crore through a food processing policy. The Cabinet has decided to extend the current deadline of July 12 for interested entrepreneurs to apply to July 31.
Financial incentives
The cabinet meeting decided to provide financial incentives to producers, farmers' unions and self-help groups to move the value chain forward through the establishment of food processing companies. The government will encourage entrepreneurial opportunities for rural SC and ST women in the zones.
Details of discounts
1) It has been decided to provide electricity subsidy at the rate of Rs. 2 per unit for up to 5 years.
2) Decision to reimburse 75 per cent of the total interest payable on the term loan taken for the investment (not exceeding Rs 2 crore).
3) Decision to reimburse 100% of the fee payable to the Market Committee for a period of seven years.
4) It has also decided to allocate land in these zones exclusively for logistics .
Extra incentives for them
The Cabinet decided to provide additional incentives to SC, ST and minorities.
1) Decided to sanction 15 per cent capital (not exceeding Rs. 20 lakhs).
2) 10% Reimbursement (85%) on interest payable on capital loan (not to exceed Rs. 2 crore interest)
3) 33 per cent subsidy on purchase price of land allotted in zones to those who are eligible (subsidy not exceeding Rs. 20 lakhs)
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