PM Modi launches financing facility of Rs 1 Lakh Crore under Agriculture Infrastructure Fund

Rs. 17000 Crore transferred by PM to nearly 8.5 Crore farmers under PM-KIASN through direct benefit transfer to Aadhaar linked bank accounts

Rs. 1000 Crore sanctioned to over 2280 farmer societies under Agriculture Infrastructure Fund within 30 days of receiving Cabinet approval for the Central Sector Scheme

Farmers are now ready to be entrepreneurs, in line with the vision of doubling farmers’ income: PM

Prime Minister Shri Narendra Modi today propelled another Central Sector Scheme of financing office under the Agriculture Infrastructure Fund of Rs. 1 Lakh Crore. The plan will bolster ranchers, PACS, FPOs, Agri-business people, and so forth in building network cultivating resources and post-collect horticulture framework. These benefits will empower ranchers to get more prominent incentive for their produce as they will have the option to store and sell at more significant expenses, diminish wastage, and increment handling and worth expansion.

Today, just 30 days after Cabinet officially affirmed the plan, the main assent of over Rs. 1000 Crore was made to more than 2,280 rancher social orders. The occasion was led through video meeting and was gone to by lakhs of ranchers, FPOs, cooperatives, PACS, and residents joining from the nation over.

At a similar occasion, the Prime Minister additionally delivered the sixth portion under the PM-KISAN plan of Rs. 17,000 Crore to about 8.5 Crore ranchers. The money advantage was moved legitimately to their Aadhaar confirmed financial balances with the press of a catch. With this exchange, the plan has given more than 90,000 Crore in the possession of in excess of 10 Crore ranchers since its dispatch on 01 December 2018.

Interaction with Primary Agriculture Credit Societies

Prime Minister interacted virtually with 3 Primary Agriculture Credit Societies from Karnataka, Gujarat, and Madhya Pradesh who are among the initial beneficiaries of the scheme.

Adress to the nation

Following his collaboration with the Primary Agriculture Credit Societies, in his location to the country, the Prime Minister communicated trust in how ranchers and the horticulture area will profit by the plan.

He said the plan will give a monetary lift to the farmers and agriculture sector and increment India's capacity to contend on the worldwide stage.

Prime minister emphasized that India has a tremendous chance to put resources into post-gather the board arrangements like warehousing, cold chain, and food handling, and fabricate a worldwide nearness in regions, for example, natural and sustained nourishments. He likewise referenced that this plan gives a decent chance to new companies in agribusiness to profit the advantages and scale their tasks, consequently making a biological system that arrives at ranchers in each edge of the nation.

Prime minister communicated his fulfillment with the pace of usage of the PM-KISAN plot. He additionally noticed that the size of the program is huge to such an extent that the assets delivered today have contacted a bigger number of individuals than the whole populace of a few nations taken together.

He also congratulated states for playing an important role in the implementation and assisting farmers through the entire process from registration all the way to disbursals.

The Union Minister of Agriculture & Farmers’ Welfare, Shri Narendra Singh Tomar, was also present on the occasion.

Agriculture Infrastructure Fund

The Agriculture Infrastructure Fund is a medium – long haul obligation financing office for interest in practical undertakings for post-reap the board foundation and network cultivating resources through intrigue grant and credit ensure.

The term of the plan will be from FY2020 to FY2029 (10 years). Under the plan, Rs. 1 Lakh Crore will be given by banks and monetary organizations as advances with premium grant of 3% per annum and credit ensure inclusion under CGTMSE plot for advances up to Rs. 2 Crore.

PM- KISAN

The PM-KISAN plot was propelled in December 2018 to give salary support by method of a money advantage to all landholding ranchers (subject to certain avoidance measures) to empower them to satisfy their rural prerequisites and bolster their families. Under the plan, the money related advantage of Rs.6000/ - every year is given to qualified recipient ranchers in three equivalent portions.

A new dawn for the agriculture sector

These steps are the latest in a series of reforms taken by the Government of India under the guidance of the Prime Minister.

These measures will collectively herald a new dawn for the agriculture sector in India and shows the government’s commitment to championing the cause of ensuring the welfare and sustainability of livelihoods for the farmers of India.