The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has given its approval for restructuring the schemes of the Ministry of Food Processing Industries (MoFPI) under new Central Sector Scheme – SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) for the period 2016-20 coterminous with the 14th Finance Commission cycle.
SAMPADA with an allocation of Rs. 6,000 crore is expected to leverage the investment of Rs. 31,400 crore will benefit 20 lakh farmers and generate 5,30,500 direct/ indirect employment in the country by the year 2019-20. The objective of SAMPADA is to supplement agriculture, modernize processing and decrease agri-waste. The SAMPADA is a comprehensive package to give a renewed thrust to the food processing sector in the country.
Important Takeaways from above News for Dena Bank PO Exam-
- Cabinet has approved a New Central Sector Scheme – SAMPADA
- Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters is the full form of SAMPADA
- The objective of SAMPADA is to supplement agriculture, modernize processing and decrease agri-waste.
Source- Press Information Bureau (PIB)
If you have any other takeaways, do share with us in the comment section