A POWER BOOSTER OF RS. 1 LAKH CRORE TO AGRICULTURAL INFRASTRUCTURE
Prime Minister Narendra Modi, on 9th August 2020, launched the Agriculture Infrastructure fund of Rs. 1 Lakh crore.
This fund was the part of the AtmaNirbhar Package announced in the month of May 2020 by the Indian Finance Minister. At the launch, Prime Minister said that this fund will help in the management of post-harvesting and marketing of the agricultural produce. This will also help the agriculturist to get the best market price of their agriculture produce.
He further said that around Rs.17,100 crores have been transferred to the bank account of 8.55 crore farmers under the PM-Kisan direct income assistance scheme.
The necessary details related to this scheme is given as under
|2||Benefits of the scheme||
The scheme provides the following benefits:
|3||Objectives of the Scheme||For post-harvest management Infrastructure, a medium – long term debt financing facility for investment in viable projects and community farming assets through interest subvention and financial support.|
|4||How the fund will be spent?||
The fund will be spent over 4 years by the government. In the following manner, the fund will be allocated –
|5||Moratorium period||Minimum of 6 months and a maximum of 2 years.|
|6||Duration of the Scheme||The duration of the Scheme is 10 years i.e from FY2020 to FY2029|
|7||Who will manage the scheme?||The Agri Infra fund will be managed and monitored by an online Management Information System platform. The role of this system is to provide all the necessary assistance to all the qualified entities to apply for a loan under the fund|
|8||Committee||The National, State, and District level Monitoring Committees will be formed to ensure real-time monitoring and effective feedback.|
|9||Other necessary information||
Such initiation will help all the stressed farmers who have to suffer the most by the wastage of their product and are always underpaid.
Edited by Minu Mishra
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