Gram Samridhi Yojana (GSY)

Government of India is planning to launch Gram Samridhi Yojana (GSY) to help unorganized food processing sector in India. The Food Processing Ministry to implement the scheme. The cottage industries, farm producer organizations & individual food processors will get benefited from the scheme.

Gram Samridhi Yojana (GSY)
Benefits:	Financial assistance, subsidy on loans & interests
Beneficiaries:	Small/home-based food processing units
Budget:	Rs. 3,000 crore

Objectives:

To help & encourage small & medium scale food processing units
To help them financially
To make sure they have easy access to the finances & loans
To help them in skills development, technology up-gradation & expansion
To encourage entrepreneurship & help youth setup small food processing units
To create employment & more jobs in the rural sector
To boost India`s economy

Beneficiaries:

Home-based small food processing units
Farmer producer’s organizations
Individual food processors

Benefits:

Easy access to loans
Subsidy of upto Rs. 10 lakh for the unit
Subsidy on loan interest

The scheme will primarily help local farmers. The government`s focus is to double farmers income. The rural food processing units will process the local farm produce, package & market it.

The scheme will be 50% funded by the world bank. Rs. 1,500 crores from the world bank will be invested in the Gram Samridhi Yojana where as remaining Rs. 1,500 crores will be invested by the central & state governments. Rural incubation & business centers also will be setup under the scheme. Incubators will support with infrastructure & services. Business centers will help in launching new products, marketing & selling them.

The scheme is yet to be launched. Once approved the scheme will be launched in phases. In the first phase it will be implemented in Maharashtra, Punjab, Andhra Pradesh & Uttar Pradesh.