Rajya Sabha
The utilization of fruits and vegetables for processing in the organized & unorganized sectors is estimated to be about 2% of the total production. With a view to encourage processing of horticulture produce, the Ministry of Food Processing Industries provides financial assistance in the form of grant in aid for setting up of fruit and vegetable processing units. Government in 2004-05, under the Income Tax Act, has also allowed 100% deduction of profit for the first five years and 25% deduction for another five years for new upcoming units. The Ministry does not set up processing units on its own.
This Information was given by Minister of Food Processing Industries, Shri Subodh Kant Sahai in written reply to a question in Rajya Sabha today.
ALM/AS
(Release ID :15860)