Mumbai: Food Processing Minister Subodh Kant
Sahai today said the sector would be accorded priority in the
forthcoming Budget.
"The food processing industry is a priority as it is one
of the growing sectors and is going to be the largest
employment generator in the next few years. However, the need
of the hour is to invest in the sector," Sahai told reporters
on the sidelines of a conference here.
The government wants more public-private partnerships in
the agricultural sector to help Indian farmers move up the
value-chain, he said, adding that this will create huge
employment opportunities, raise income levels, eliminate
poverty and transform rural India.
Asked about lack of marketing and poor cold storage
facilities that lead to wastage of agri-produce and vegetables
and thus a surge in food prices, Sahai said that those setting
up cold storage facilities would enjoy a tax-free benefit.
The Minister also called for more private investors in
this segment. "The government has made it tax-free for those
who want to set up cold storages. More and more private
investors should come forward. We have also licensed a lot of
grants for setting up cold storages," he added.
The Minister had earlier said that he has set a target of
raising the level of food processing to 20 per cent by 2015
from the current level of a mere 6 per cent.
Bureau Report
First Published: Monday, February 15, 2010, 20:39