Consider the following Statements about the PM Formalization of Micro Food Processing Scheme and choose the correct option.
(I) It was launched in 2020.
(II) It was launched as an initiative under the Atmanirbhar Bharat Abhiyan.
(III) It will run for 10 years – 2020-21 to 2029-30.
It was launched on 29th June 2020. It is a part of Atmanirbhar Bharat Abhiyan. It is a centrally sponsored scheme. The share of expenditure under the PM FME scheme is as follows: 60:40 between the central government and state governments and UTS with the legislature 90:10 between central and North Eastern and Himalayan states 100 percent central assistance for UTs without legislatures. It will run for five years – 2020-21 to 2024-25. The central government will bear the expenditure for the first year irrespective of who incurs it; later will be adjusted in the ratio mentioned above; in the next four years.
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