Private Investment in Food Processing Industries
Government
policy has multipronged strategy to provide grants-in-aid as well as
fiscal incentives for inviting private sector investment in food
processing sector. The response and interest shown by the private
sector has been encouraging.
Government has taken several steps like tax reduction, waiver/reduction of excise duty, reduction of custom duty on specific food items with a view to encourage the growth of food processing industries and make them more competitive.
The scheme of the Ministry are project oriented and demand driven and therefore likely capital investment to be made may not be possible to be quantified.
This information was given by the Minister of State for Food Processing Industries, Dr. Charan Das Mahant in a written reply in the Lok Sabha today.
Government has taken several steps like tax reduction, waiver/reduction of excise duty, reduction of custom duty on specific food items with a view to encourage the growth of food processing industries and make them more competitive.
The scheme of the Ministry are project oriented and demand driven and therefore likely capital investment to be made may not be possible to be quantified.
This information was given by the Minister of State for Food Processing Industries, Dr. Charan Das Mahant in a written reply in the Lok Sabha today.
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