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UP clears food processing proposals worth ₹10K cr to boost rural economy

The state has achieved a 98 per cent bank loan approval rate under the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) scheme, the highest in the country

One of the most important factors that would determine how the rural economy performs in the remaining two quarters of financial year 2025 (FY25) is how prices of major agriculture commodities fare.
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UP’s agricultural economy has increased threefold in the last eight years to nearly ₹ 7 trillion. | Representative Image

Virendra Singh Rawat Lucknow

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The Uttar Pradesh (UP) government has cleared food processing proposals worth more than ₹10,000 crore to boost the agricultural sector and rural economy.
 
UP Deputy Chief Minister Keshav Prasad Maurya, who also holds the food processing portfolio, has invited private sector investment to leverage the vast potential in the agricultural and allied domains. 
 
“The reduction in the goods and services tax (GST) rates on food products has stoked domestic demand. This will not only augment the farm income but also create new employment opportunities in the rural areas,” he said.
 
He added that the food processing value chain