Description
Context: Agriculture Infrastructure Fund has crossed the Rs. 8000 crores mark after receiving 8,665 applications worth Rs. 8,216 crores.
- The largest share of the pie is contributed by Primary Agricultural Credit Societies (PACS) (58%), agri-entrepreneurs (24%) and individual farmers (13%).
- States leading the front are Andhra Pradesh (2,125 applications), Madhya Pradesh (1,830), Uttar Pradesh (1,255), Karnataka (1,071) & Rajasthan (613).
About Agriculture Infrastructure Fund
- The Agriculture Infrastructure Fund is a medium - long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and credit guarantee.
- The duration of the scheme is from FY2020 to FY2029 (10 years).
- Under the scheme, Rs. 1 Lakh Crore will be provided by banks and financial institutions as loans with interest subvention of 3% per annum and credit guarantee coverage under CGTMSE for loans up to Rs. 2 Crores.
- Eligible beneficiaries include farmers, FPOs, PACS, Marketing Cooperative Societies, SHGs, Joint Liability Groups (JLG), Multipurpose Cooperative Societies, Agri-entrepreneurs, Start-ups, and Central/State agency or Local Body sponsored Public-Private Partnership Projects.
https://pib.gov.in/PressReleasePage.aspx?PRID=1714482
