Decline in Growth Rate in Food and Grocery Retail Sector

As per NAS 2019 estimates, the food processing sector (NIC 10 and 11) is growing at the annual average rate of 8.19% during the last five years ending 2017-18. Data on growth rate specific to retail (food < agro-based processing units and cold chain as agricultural activity for Priority Sector Lending (PSL), 100% exemption of income tax on profit for new food processing units, 100 percent income tax exemption from profit derived by FPOs having annual turnover up to Rs.100 crore for activities such as post-harvest value addition to agriculture,100% deduction of expenditure incurred on investment on establishment and operation of cold chain/warehousing facility for storage of agricultural produce, concessional import duty for plant and machinery under project imports benefit scheme, import duty exemption on import of raw material under advance authorization scheme.