AndhraNews.Net - Growth rate in food processing sector

New Delhi: August 16, 2004

The growth rate projected in the food processing sector during the on-going 10th plan is estimated at 7.1 per cent. Food processing industries are both in the organized and un-organized sectors. Hence no information about their annual turnover is maintained at the central level. The Minister for Food Processing Industries, Shri Subodh Kant Sahai stated this in the Lok Sabha today.

In reply to another question the Minister said the Government has announced certain incentives for promoting upcoming agro processing units. These include units which process, preserve and package fruits and vegetables.

The present excise duty of 16 per cent on dairy machinery has been fully waived for promoting the dairy processing industries. The excise duty on meat, poultry and fish has been reduced from 16 to 8 per cent. The excise duty on food grade hexane used in audible oil has, likewise, been reduced from 32 to 16 per cent, the Minister added.

Press Release: PIB

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