Government launched ₹ 1 Lakh Crore Finance Facility for Agri-Infrastructure

Prime Minister of India has launched a debt financing facility under the Agriculture Infrastructure Fund with a budget of ₹ 1 lakh crore. Under this, Farmer Producer Organisation Schemes, self-help groups and agri-entrepreneurs can take loans to build infrastructure for post-harvest management and community farming assets, like cold storage, collection centres and processing units.

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Key-Points

The Fund will catalyse the creation of post-harvest management infrastructure and community farming assets such as cold storage, collection centres and processing units.

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.

One lakh crore rupees will be sanctioned under the financing facility in partnership with multiple lending institutions.

The beneficiaries of the scheme will include farmers, PACS, Marketing Cooperative Societies, FPOs, SHGs, Joint Liability Groups, Multipurpose Cooperative Societies, Agri-entrepreneurs, Start-ups, and Central/State agency or Local Body sponsored Public-Private Partnership Projects.