Production Linked Incentive Scheme for Millet Based Products
Ministry: Ministry of Food Processing Industries
The scheme aims to increase usage of millets and promote value-added millet products. Through this scheme, financial incentives on incremental sales are provided to eligible manufacturers.
About This Scheme
Benefits
1. The applicable rate depends on the financial year of the claim.
> Maximum Incentive Limit:
> Financial Incentive on Incremental Sales:
1. The applicant is provided an incentive for incremental sales of eligible millet-based food products.
1. The incentive is calculated as: Incremental Sales × Applicable Rate of Incentive.
1. Incremental sales refer to sales over and above the base year (FY 2020-21 for initial years).
> Incentive Rates:
1. The incentive rate is 10% for the initial years and reduces to 8% in later years of the scheme.
₹100.0 Cr
1. The applicant (Large Entity) can receive an incentive of up to ₹100,00,00,000/- during the scheme period.
₹40.0 Cr
1. The applicant (MSME) can receive an incentive of up to ₹40,00,00,000/- during the scheme period.
> Coverage of Eligible Products:
1. The incentive is applicable only to packaged and branded Ready-to-Cook (RTC) / Ready-to-Eat (RTE) products.
1. The product should contain more than 15% millet content by weight/volume.
> Conditions for Availing Benefits:
1. The applicant should achieve a minimum 10% Compound Annual Growth Rate (CAGR) in sales of eligible products.
1. The applicant will not receive incentive for a year if the minimum growth is not achieved.
1. The applicant should ensure that the declared millet content is not reduced during the scheme period.
> Mode of Disbursement: The incentive is disbursed through Direct Bank Transfer to the applicant’s account via PFMS.
> Time of Disbursement: The claim for incentive is processed within 60 days from submission of complete documents.
Eligibility
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Required Documents
- ✦Application Form ( Annexure-1 )
- ✦Memorandum And Articles Of Association / Partnership Deed / Equivalent Registration Documents (As Applicable)
- ✦Shareholding Pattern / Details Of Partners (As Applicable)
- ✦Audited Financial Statements For Last 3 Years (Including Balance Sheet And Schedules)
- ✦Profit Before Tax (PBT) And Profit After Tax (PAT) Details (Last 3 Years)
- ✦Permanent Account Number (PAN)
- ✦Goods And Services Tax (GST) Registration Certificate
- ✦Udyam Registration Certificate (For MSME Applicants)
- ✦FSSAI License For Eligible Products
- ✦Certificate From Statutory Auditor / Independent Chartered Accountant (On Sales Of All Food Products And Eligible Products)
- ✦Details Of Sales (Domestic And Export) Of Food Products And Eligible Products
- ✦Product Details With Declaration Of Percentage Of Millet Content
- ✦Front And Back Photographs Of Eligible Products (Showing Millet Content On Label)
- ✦Credit History / Commercial CIBIL Report
- ✦Undertaking For Integrity Compliance ( Annexure-7 )
- ✦Consent For Audit Of Manufacturing Sites/Offices ( Annexure-6 )
- ✦Details Of Manufacturing Facilities (Own And Contract Manufacturing Units)
- ✦Details Of Promoters, CEO, Directors, and Key Managerial Personnel (With PAN/DIN)
- ✦External Credit Rating Details (If Available)
✦ Required ◦ Optional
How to Apply
₹1,00,000/- for Large Entity applicants ₹10,000/- for MSME applicants Payment should be made through NEFT/RTGS as specified.
Quick Info
- Level
- Central Government
- Max benefit
- ₹100.0 Cr