Live-PM Modi launches financing facility under Agriculture Infrastructure Fund

New Delhi 09 Aug-Prime Minister Narendra Modi launches financing facility under Agriculture Infrastructure Fund and release benefits under PM-KISAN via Video Conferencing Prime Minister Shri Narendra Modi launches the financing facility of Rs. 1 lakh crore under the Agriculture Infrastructure Fund on 9th August at 11 AM via video conferencing. Prime Minister also released the sixth instalment of funds of Rs. 17,000 crore to 8.5 crore farmers under the PM-KISAN scheme. The event witnessed by lakhs of farmers, cooperatives, and citizens across the country. Union Minister of Agriculture and Farmers’ Welfare, Shri Narendra Singh Tomar, was also present on the occasion. The Union Cabinet has approved the Central Sector Scheme of financing facility under “Agriculture Infrastructure Fund” of Rs. 1 Lakh Crore. The Fund will catalyze the creation of post-harvest management infrastructure and community farming assets such as cold storage, collection centres, processing units, etc. These assets will enable farmers to get greater value for their produce, as they will be able to store and sell at higher prices, reduce wastage, and increase processing and value addition. Rs. 1 Lakh Crore will be sanctioned under the financing facility in partnership with multiple lending institutions; 11 of the 12 Public Sector Banks have already signed MOUs with the DAC&FW. 3% interest subvention and credit guarantee of up to Rs 2 Crore will be provided to the beneficiaries to increase the viability of these projects. The beneficiaries of the scheme will include farmers, PACS, Marketing Cooperative Societies, FPOs, SHGs, Joint Liability Groups (JLG), Multipurpose Cooperative Societies, Agri-entrepreneurs, Startups, and Central/State agency or Local Body sponsored Public-Private Partnership Projects.