Food processing projects to get major sopAugust 5th, 2008 - 1:48 pm ICT by IANS
New Delhi, Aug 5 (IANS) The government will refund 50 percent of the project cost in the food processing sector to the promoter, minister of state for food processing Subodh Kant Sahay said here Tuesday. “The food processing sector is a tax free sector, where the government provides tax holidays to investors,” Sahay said at a seminar on food safety and quality in kitchen organised by industry lobby Confederation of Indian Industry.
“We will refund 50 percent of the entire cost of the project to facilitate growth,” he added.
The food processing industry is growing at 13.7 percent as compared to six percent four years ago, he said.
Sahay also said the government plans to set up about 50 food testing laboratories - that is a minimum of one laboratory per state - in order to initiate better food standards.
Tags: confederation of indian industry, food processing, food safety, food standards, food testing laboratories, free sector, investors, kant, minister of state, New Delhi, promoter, sahay, sop, tax holidays