Krishi VaartaKrishi Jaagran
The Modi government will make agricultural infrastructure strong, Rs 1 lakh crore approved for this!
The Modi government is constantly trying to increase the income and facilities of farmers. A Union Cabinet meeting was held under the chairmanship of PM Narendra Modi. The Agriculture Infrastructure Fund of Rs 1 lakh crore has been approved in this meeting.
These funds are part of the incentive package
An agricultural infrastructure fund of Rs 1 lakh crore will be set up under this scheme. This will provide financial assistance to the agricultural technology industry, entrepreneurs, startups and farmers' groups. In this way the infrastructure of the agricultural sector will be further strengthened. Along with this, maintenance and transport facilities will be established. The fund is part of PM Modi's Rs 20 lakh crore economic stimulus package. The goal of this package is to correct the economy that was badly affected by covid-19.
According to Agriculture Minister Narendra Singh Tomar
This is considered a historic decision for the agricultural sector. The fund will provide financial assistance to primary agricultural credit societies, farmer groups, farmer producer organizations, agricultural entrepreneurs, startups and agricultural technology entrepreneurs. Apart from this, Cold Store chain building, warehouse building, sorting and packing units, e-marketing centers will be set up.
Credit guarantee coverage will also be available
This loan will be disbursed in 4 years. 10 thousand crore rupees in the current financial year and 30 thousand crore rupees have been approved in the next 3 financial years. This loan will be given under the financing facility, in which a rebate of 3 percent will be provided for all types of loans up to Rs 2 crore every year. This rebate will be available for a maximum period of 7 years. In addition, credit guarantee coverage will be given under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme for loans up to Rs 2 crore. The special thing is that the government will pay a fee for this coverage.
Moratorium facility will be provided for repayment of loan in Agriculture Infrastructure Fund. This will be for a minimum of 6 months and maximum of 2 years. The project will be monitored through an online management information system platform. Committees will be formed at the national, state and district levels for its monitoring and feedback. The time frame of this scheme has been fixed from FY 2020 to 2029.
Source: Krishi, jagran, 9 july 2020
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