MoFPI Holds High-Level Industry Consultation to Shape Next Phase of Food Processing Incentive Scheme
The Ministry of Food Processing Industries (MoFPI), Government of India, today organized a high-level Stakeholder Consultation at Vigyan Bhawan, New Delhi, to deliberate on the future roadmap for fiscal support to the food processing sector and to formulate the next phase of the incentive/ subsidy schemes. The consultation brought together senior officials of the Ministry, representatives of IFCI Limited, Invest India, industry leaders, sectoral associations and beneficiaries of the PLISFPI scheme.
Quick Revision
Prelims-testable facts
- 01The Ministry of Food Processing Industries (MoFPI) is a government ministry responsible for promoting and developing the food processing sector in India.
- 02The PLISFPI scheme is an incentive/subsidy scheme supported by MoFPI to benefit the food processing industry.
- 03A high-level stakeholder consultation was organized by MoFPI at Vigyan Bhawan, New Delhi, to deliberate on the future roadmap for fiscal support to the food processing sector.
- 04The consultation brought together senior officials of MoFPI, representatives of IFCI Limited, Invest India, industry leaders, sectoral associations, and beneficiaries of the PLISFPI scheme.
- 05The next phase of the incentive/subsidy schemes was discussed during the consultation to shape the future roadmap for fiscal support to the food processing sector.
- 06MoFPI aims to promote and develop the food processing sector in India through various initiatives and schemes.
Trap alerts
- Most people think that MoFPI is responsible for only providing subsidies to farmers, but actually it also provides incentives and support to the food processing industry.
- Most people think that PLISFPI scheme is a new initiative, but actually it is an existing incentive/subsidy scheme supported by MoFPI.
Mains Practice Question
Critically examine the role of high-level industry consultations in shaping fiscal support to key sectors, using the recent MoFPI consultation as a case study.
250 words
Practice this in the exam hall →Prelims Practice MCQs
Which ministry organized a high-level Stakeholder Consultation at Vigyan Bhawan, New Delhi?
- A.Ministry of Finance
- B.Ministry of Food Processing Industries
- C.Ministry of Commerce and Industry
- D.Ministry of Textiles
The Ministry of Food Processing Industries (MoFPI) is responsible for promoting the food processing sector in India, and organized a high-level consultation to shape its future roadmap.
Consider the following statements regarding MoFPI High-Level Industry Consultation: 1. The consultation was attended by senior officials of the Ministry and industry leaders. 2. The next phase of the incentive/subsidy schemes will be formulated in collaboration with IFCI Limited and Invest India. 3. The consultation aimed to discuss the future roadmap for fiscal support to the food processing sector. How many of the above statements are correct?
- A.Only one
- B.Only two
- C.All three
- D.None
Statement 1 is correct as senior officials of the Ministry and industry leaders were mentioned in the source. Statement 2 is incorrect because while IFCI Limited and Invest India were present at the consultation, there's no mention that they are collaborating with MoFPI to formulate the next phase of incentive/subsidy schemes. Statement 3 is correct as it aligns with the purpose of the consultation.
Consider the following two statements: Statement-I: The Ministry of Food Processing Industries (MoFPI) organized the consultation at Vigyan Bhawan, New Delhi. Statement-II: The consultation was held to deliberate on the future roadmap for fiscal support to the food processing sector. Which one of the following is correct in respect of the above statements?
- A.Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
- B.Both Statement-I and Statement-II are correct but Statement-II is not the correct explanation for Statement-I
- C.Statement-I is correct but Statement-II is incorrect
- D.Statement-I is incorrect but Statement-II is correct
Statement-1 is correct because it is mentioned in the text that the consultation was held at Vigyan Bhawan, New Delhi. Statement-2 is also correct, but it does not explain why Statement-1 is true; rather, both statements are independent facts about the consultation.