10 Lakh Subsidy for Food Business | Business | Sarthak Ahuja

If you want to set up a small business of food processing, the govt is offering a subsidy of Rs 10 lakhs...

The Scheme is called the PMFME - PM’s Formalization of Micro Food Processing Enterprises...

You just need to contribute 10% of the project cost, while the balance 90% can be taken as a loan...

From the total cost of the project, up to 35%, maximum up to Rs 10 lakhs, shall be paid by the govt as a subsidy.

If you club the benefits of this scheme with those under CGTMSE, you don’t even need to give a property as collateral to the bank, and a discount on interest rate of up to 3% may be available under the Agri Infra Financing Scheme.

Out of the 250k applications, ~36% have already been approved, and ~28% have started receiving the funds under the scheme.

The scheme is only for food processing or small scale manufacturing and not for retailers and wholesalers.
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A Chartered Accountant with about 10 years of experience in areas of Tax Advisory, Startup Consulting, Fundraising, Audits, Deal Advisory, Business Modelling and contract CFO services.

Winner of the ISB Young Leader Award 2017 and the Best All Rounder, PGP Class of '17, Sarthak has also been published about in the leading financial newspapers such as The Financial Express as possibly the youngest Indian to have completed the courses of CA, CS and CMA along with a graduate degree in Financial & Investment Analysis from University of Delhi, all by the age of 23 years.

[turanamo]

The SSI officer incharge of approval is asking for 10% bribe to get the subsidy approved. What next?

[Satadru-zz]

Govt will give the money but govt employees ask for bribe. Remember what Rajiv Gandhi said : "every rupee targeted towards welfare and poverty alleviation only a fraction, 15 paise, reached the intended beneficiary".

[jaishreekrishna]

All these are great to listen, but reality everyone knows. If u have to be successful, then never ever believe on bank and govt. U alone is complete.

[FirstLast-irwg]

I tried this but failed due to cibil score being low. The key point here is the bank and not all banks help you in this, the better way is to fill the application and wait for a long time till someone from pmfme calls you and then you need to ask them about the bank near you that could support this and if they could refer you to that bank. Hopefully someday in future I'll take this scheme and I'll get this scheme.

[Cricket_ki_duniya-ep]

Banks are only taking proposal but not giving loan

[jkyirtv]

Shall we consider 10% of the loan as bribery?

[Appinest]

I am a single mother with no property, can I not getvhelp from government to start a organic skin care business

[imran]

What do you mean by food processing business here ?? Doctors are already telling to avoid Processed Food.

[dineshkumar-gkpr]

For that we should provide gst returns rt ?

[.abhisheksinghal]

Bhai jake le pehla, i was starting a hotel and denied cgtmse by all banks even when they will get the constructed property as collateral. Making reels is much more easier in our country than actually doing it

[Shivavishnubrahma]

People will take the money and dissapear

[devasenapathyappu]

Very Usefull info. Thanks for sharing.

[sudeepsathyanarayana]

The new entrepreneur needs guidance on project selection and project planning, development process. Is there any help in this regard. I do have infrastructure but don’t know how to get started within the Food processing industry

[xia]

ஆபாவாணன்
தமிழ் சினிமாவின் மற்றும்மொரு Legend 🎉🎉🎉

[mdbfkce]

You can not get anything unless you have solicited with toute of bank staff. Otherwise you will be informed that mudra loan, KCC or any government schemes are closed at this moment at this branch because of high NPA of bank branch😂😂

[potapota]

There is SCHEME called DTB countering leakage

[AMilesYT]

But SSI officer is asking for a bribe. Local goons asking for bribes. What to do?

[manzarabbas]

Boss, you somewhere give absolute and some time give % numbers, which does not take us anywhere

[goa]

meaning more scams

all politicians are ppl who have applied

[newdhirajkolge]

Pehle Babulog ka Commossion declare all is for Left and Right Hands of MP MLAs who open Bottled water, Aircraft meals and such lucrative businesses. Common Salaried Class DONT even think about it and take the First flight out😂