The critical need for India is for affordable, tasty, nutritional, and hygienic food made accessible to working millennials in an easy and convenient manner so they do not have to make compromises on health due to the type of food they consume daily.
At the same time, India’s food wastage is estimated to be around 67,000 million tonnes every year valued at Rs. 92,000 Crores, which can and must be saved with modern food preserving technologies.
We urge the Hon’ble Finance Minister to accommodate budgetary allocations in three important areas for a healthier India;
(1) Income Tax rebate for three years for companies helping reduce food wastage using modern food preserving technologies like cold-pasteurization High Pressure Processing (HPP) who can give assurance of extended shelf life of ready-to-eat, cooked meals of upto 4 months or more.
(2) Zero GST bracket for food processing companies that source agri-produce directly from farmers, fishermen and poultry farmers, creating farm-to-table access for agri-produce by eliminating the agricultural middleman.