On 18 October 2021, the Government of Kerala launched its new Seed Capital Financial Assistance Scheme. Under this SCFAS Scheme, assistance has been provided to Self Help Groups (SHGs) under the Pradhan Mantri Formalisation of Micro food processing Enterprises (PM-FME) scheme. In this article, we shall inform you about the complete details of the Kerala Seed Capital Financial Assistance Scheme.
Kerala Seed Capital Financial Assistance Scheme 2024 launched to extend financial assistance to SHGs under the PM FME Scheme. The state govt. has chatted on the idea of staring up an online platform to provide products manufactured by Kudumbashree and other Micro, Small, Medium production units. The Kerala govt has already started at preliminary level talks.
Assistance to SHGs as Part of PM FME Scheme
The Pradhan Mantri Formalisation of Micro Food Processing Enterprises Scheme is already working with the central government. The PM FME Scheme will be working in collaboration with the state governments to offer incentives to the food processing industries. The new PM FME Scheme will offer financial, technical, and business support to the small enterprises for food processing.
The One District One Product Scheme was formed to identify one product from each district and help sell it. It involves procurement of raw materials through common facilities for its production and also to help widen the market for the product. The food processing ministry further helps entrepreneurs in building logistical support and developing brand building for the product.
Assistance Amount to Self Help Groups
- The initial capital up to Rs. 40,000 will be given to the members of the self-help group for procuring machines under the PMFME scheme.
- Members of the self-help groups, who are involved in food processing, can avail 35% credit linked capital subsidy up to 10 lakh rupees.
- Even the capital investment of the federation of SHGs would receive a 35 percent subsidy through credit-linked grants.
The Atma Nirbhar Abhiyan project of the ministry of food processing will offer seed capital fund of Rs. 4,30,51,096 to 1440 Kudumbasree units in Kerala.
