Krishi VaartaPunjab kesari
Agricultural infrastructure funding important in increasing the share of agriculture in GDP!
The one lakh crore rupees infrastructure fund launched by the government will prove to be instrumental in increasing the contribution of the agriculture sector to the country's gross domestic product (GDP). According to the farmers' organization FAIFA, the economy is expected to increase stability, especially in the midst of the recession caused by the coronavirus. The Federation of All India Farmers' Associations (FAIFA) said that this fund will prove to be important for farmers, agri-entrepreneurs, start-ups, agri-technology companies and farmer groups who are focused on promoting the country's agricultural infrastructure.
FAIFA said in a statement that agriculture currently contributes more than 14 percent to the national gross domestic product (GDP) and provides livelihood to more than 40 percent of the country's workforce. It is expected to contribute even more to economic stability in 2020-21 amid the economic slowdown caused by covid-19.The farmer body said this would help the agriculture sector increase its contribution to GDP, improve the balance of trade conditions, encourage the export potential of the agricultural sector and ensure a stable and prosperous life by increasing farmers' income.
Welcoming the fund, FAIFA President Javare Gowda said, "This fund plans to facilitate medium-to-long-term debt financing for investment in profitable projects of its management infrastructure after harvesting the agricultural sector." It will help in creating and creating community farming assets through interest assistance and financial support.
Source: Punjab kesari, 11 August 2020,
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