Allocation in Food Processing sector doubled in Budget to Rs1,400cr

Government has doubled the allocation in the food processing sector under Budget 2018-19 to Rs1,400cr

Feb 01, 2018 06:02 IST India Infoline News Service

The government has doubled the allocation in the food processing sector under Budget 2018-19 to Rs1,400cr from Rs750cr last year.

Food processing sector is growing at an of average 8% per annum. Additionally, the agri exports have the potential of $100bn, and hence government plans to set up state-of-art facility in 42 food parks.

Further, the government also plans to set up an agricultural market fund in order to support the rural growth, with a total corpus of  Rs2,000cr. 

Freshtrop Fruits is up by 5.47%, Future Consumer is up by 2.46% and ITC is up by 1.35% at 12.12am on BSE.

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