Agriculture Infrastructure Fund Awards 2022

July 30, 2022

Agriculture Minister Narendra Singh Tomar is set to present Agriculture Infrastructure Fund Awards on July 30, 2022 in New Delhi. Awards are presented as a part of Agriculture Infrastructure Fund, which was launched in the year 2020, under Aatmanirbhar Bharat Initiative. It is a central government scheme.

About Agriculture Infrastructure Fund:

Union Cabinet approved the “Agriculture Infrastructure Fund Scheme” to inoculate formal credits to farm and farm-processing based activities.
This scheme is a part of “Rs. 20 lakh crore stimulus packages”, that was announced amid Covid-19 crisis.
Scheme has been launched for financial year 2020-2029.
It is aimed at providing medium-long term debt financing facility to invest in projects related to community farming assets and post-harvest management Infrastructure.
Under the scheme, funds are provided to set up cold stores and chains, silos, warehousing, grading & packaging units, e-marketing points etc.

Important Features of the Scheme include;

As a part of the scheme, loan amount of Rs. 1 Lakh Crore were provided by banks and financial institutions, to the Primary Agricultural Credit Societies, Farmer Producers Organisations, Marketing Cooperative Societies, Self Help Group (SHG), Farmers, etc.
Loans are being disbursed in four years. Rs 10,000 crore was provided in the first year while, Rs. 30,000 crores are being provided in three instalments over three years.
Moratorium for repayment has been fixed as 6 months to 2 years.
Loans have the interest subvention of 3% per annum, with a limit of up Rs. 2 crores.

As per reports, ministry has received 23000 applications on integrated Portal of Agri Infra Fund. Out of these, 13700 applicants have been sanctioned more than 10,000 crore rupees.

« Previous PostNext Post »