Agriculture Infrastructure Fund
- Posted By
11th Aug, 2020
- Prime Minister of India has recently launched the financing facility of 1 lakh crore rupees under the Agriculture Infrastructure Fund.
- The scheme shall provide a medium - long term debt financing facility for investment in viable projects for post-harvest management Infrastructure and community farming assets through interest subvention and financial support.
- This is New Pan- India Central Sector Scheme.
- Under the scheme, One Lakh Crore will be provided by banks and financial institutions as loans to:
- Primary Agricultural Credit Societies (PACS)
- Marketing Cooperative Societies
- Farmer Producers Organizations (FPOs)
- Self Help Group (SHG)
- Farmers, Joint Liability Groups (JLG)
- Multipurpose Cooperative Societies
- Agri-entrepreneurs, Start-ups
- Aggregation Infrastructure Providers
- Central/State agency or Local Body sponsored Public-Private Partnership Project.
- This financing facility will have interest subvention of 3% per annum up to a limit of Rs. 2 crores.
- This subvention will be available for a maximum period of seven years.
- The Fund will be managed and monitored through an online Management Information System (MIS) platform.
- The National, State and District level Monitoring Committees will be set up to ensure real-time monitoring and effective feedback.
- The duration of the Scheme shall be from FY2020 to FY2029 (10 years).
- The online platform will also provide benefits such as transparency of interest rates offered by multiple banks.