Q. Consider the following statements regarding mega food park scheme:
1.It is based on “Cluster” approach.
2.It is implemented by a Special Purpose Vehicle (SPV).
Which of the statements given above is/are correct?
Explanation: The Scheme of Mega Food Park aims at providing a mechanism to link agricultural production to the market by bringing together farmers, processors and retailers so as to ensure maximizing value addition, minimizing wastage, increasing farmer’s income and creating employment opportunities particularly in rural sector.
- The Mega Food Park Scheme is based on “Cluster” approach and envisages creation of state of art support infrastructure in a well-defined agri / horticultural zone for setting up of modern food processing units in the industrial plots provided in the park with well-established supply chain.
- Mega food park typically consists of supply chain infrastructure including collection centers, primary processing centers, central processing centers, cold chain and around 25-30 fully developed plots for entrepreneurs to set up food processing units.
- The Mega Food Park project is implemented by a Special Purpose Vehicle (SPV) which is a Body Corporate registered under the Companies Act.
- State Government, State Government entities and Cooperatives are not required to form a separate SPV for implementation of Mega Food Park project.
- Subject to fulfillment of the conditions of the Scheme Guidelines, the funds are released to the SPVs.