Empowering Micro Food Enterprises: The PMFME Scheme's Impact

The Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) scheme has boosted turnover by 1.7 times for small entrepreneurs, farmers, and women. With a budget of Rs 10,000 crore, the initiative aims to promote 'vocal for local' and secure market access for beneficiaries, emphasizing technology and financial support.

The Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) scheme is making significant strides, according to Union Minister Ravneet Singh, who announced a 1.7-fold increase in turnover for participants. Delivered during a session in the Rajya Sabha, the Minister applauded the scheme's positive reception across all states.

Ravneet Singh highlighted the scheme's commitment to supporting small entrepreneurs, farmers, and women, noting that approximately 40 percent of beneficiaries are women-owned enterprises. The scheme, running until 2026 with a budget of Rs 10,000 crore, has sparked requests for extension from both states and Niti Aayog.

The Ministry of Food Processing Industries conducted an impact evaluation revealing the scheme's success in facilitating business growth and market connectivity. Regular evaluations with stakeholders ensure effective fund utilization, promoting India's 'vocal for local' initiative.

(With inputs from agencies.)