{"id":12338,"date":"2020-08-11T15:37:58","date_gmt":"2020-08-11T10:07:58","guid":{"rendered":"https:\/\/www.grainmart.in\/news\/?p=12338"},"modified":"2020-08-11T15:38:00","modified_gmt":"2020-08-11T10:08:00","slug":"pm-modi-unveils-rs-1-lakh-crore-agriculture-infrastructure-fund-showing-further-commitment-to-farmers","status":"publish","type":"post","link":"https:\/\/www.grainmart.in\/news\/pm-modi-unveils-rs-1-lakh-crore-agriculture-infrastructure-fund-showing-further-commitment-to-farmers\/","title":{"rendered":"PM Modi Unveils Rs 1 Lakh Crore Agriculture Infrastructure Fund Showing Further Commitment to Farmers"},"content":{"rendered":"\n<p>The government of India approved another fund to modernise agriculture infrastructure. <a href=\"https:\/\/www.grainmart.in\/news\/bjp-opposes-audit-of-pm-cares-fund-by-the-public-accounts-committee\/\">PM <\/a>Modi unveils Rs 1 lakh crore agriculture infrastructure fund showing further commitment to farmers.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Agriculture Infrastructure Fund<\/strong><\/h4>\n\n\n\n<p>PM Modi announced the launch Rs 1 Lakh Crore fund for financing agricultural infrastructure on 9<sup>th<\/sup> August. Several lending partners including 11 of the 12 <a href=\"https:\/\/www.grainmart.in\/news\/government-unlikely-to-support-capital-infusion-for-public-sector-banks-for-budget-2020\/\">Public Sector Banks<\/a> have signed MOU\u2019s for the same with the DAC&amp;FW. The government will provide 3% interest subvention and <a href=\"https:\/\/www.grainmart.in\/news\/cgtmse-credit-guarantee-fund-trust-for-micro-and-small-enterprises\/\">credit guarantee<\/a> of up to Rs 2 Crore to the beneficiaries including farmers, PACS, Marketing Cooperative Societies, FPOs and SHGs. It will increase the viability of these projects.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Working of Agriculture Infrastructure fund<\/h4>\n\n\n\n<p>The fund was approved as a part of Rs 20 lakh crore stimulus package by the Union cabinet. It will work for ten years until 2029. The disbursal of the loan will take place in four years starting with the sanction of Rs 10,000 crore this year to primary Agri societies, farmers and FPOs. Further, \u20b930,000 crores will be released each in the next three financial years. These loans, up to a limit of Rs 2 crore, will have interest subvention of 3 per cent per annum available for maximum seven years.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"579\" src=\"https:\/\/www.grainmart.in\/news\/wp-content\/uploads\/2020\/04\/Pm-MOdi-1024x579.jpg\" alt=\"PM Modi Discloses Rs 1 Lakh Crore Agriculture Infrastructure Fund Supporting the Farmers\" class=\"wp-image-4758\" srcset=\"https:\/\/www.grainmart.in\/news\/wp-content\/uploads\/2020\/04\/Pm-MOdi-1024x579.jpg 1024w, https:\/\/www.grainmart.in\/news\/wp-content\/uploads\/2020\/04\/Pm-MOdi-300x170.jpg 300w, https:\/\/www.grainmart.in\/news\/wp-content\/uploads\/2020\/04\/Pm-MOdi-768x434.jpg 768w, https:\/\/www.grainmart.in\/news\/wp-content\/uploads\/2020\/04\/Pm-MOdi.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>PM Modi Discloses Rs 1 Lakh Crore Agriculture Infrastructure Fund Supporting the Farmers<\/figcaption><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">Fund to Meet Post Harvest Needs of Farmers<\/h4>\n\n\n\n<p>The fund will support the medium and long term post-harvest needs of the farmers. It will finance the management of infrastructure and community farming assets, including cold storage, collection centres, processing units. As a result, farmers will get to sell at higher prices, reduce wastage by increasing processing and value addition.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Management of the Fund<\/h4>\n\n\n\n<p>According to the <a href=\"https:\/\/www.agriculture.gov.fj\/divisions.php\">agriculture ministry<\/a>, the online Management Information System (MIS) platform will manage the applications for the loan. It will ensure transparency of interest rates scheme details, including interest subvention and credit guarantee. Not only this, but it will also decrease the need for documentation and will lead to faster approval. Ministry also said that extending formal credit to the agriculture sector will create numerous jobs.<\/p>\n\n\n\n<p>Modi also expressed contentment on the deposition of Rs 17,000 crore to 8.5 crore farmers under the<a href=\"https:\/\/www.grainmart.in\/news\/challenges-pm-kisan-samman-nidhi-scheme\/\"> PM Kisan Samman Nidhi scheme.<\/a><\/p>\n\n\n\n<p>In all, the Agriculture Infrastructure Fund will prove instrumental in enhancing agricultural development.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PM Modi unveils Rs 1 lakh crore agriculture infrastructure fund. Created to finance the management of infrastructure assets.<\/p>\n","protected":false},"author":13,"featured_media":2623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[23107,23110,23104,23105,11024,23112,19982,2049,23109,23111,23108,7304,3213,23106,4765],"class_list":["post-12338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-lakh-crore","tag-agri-socities","tag-agriculture-infrastructure","tag-agriculture-infrastructure-fund","tag-credit-guarantee","tag-formal-credit","tag-fpo","tag-harvest","tag-marketing-cooperative-societies","tag-mis","tag-pacs","tag-pm-kisan-samman-nidhi-scheme","tag-pm-modi","tag-post-harvest-infrastructure","tag-public-sector-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PM Modi Unveils Rs 1 Lakh Crore Agriculture Infrastructure Fund Showing Further Commitment to Farmers - Grainmart News<\/title>\n<meta name=\"description\" content=\"PM Modi unveils Rs 1 lakh crore agriculture infrastructure fund. 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