In order to provide various benefits to the agricultural sector, the Indian government implements numerous initiatives. Farmers are provided with financial and infrastructure resources through these programs. Recently, the Indian government established the Agriculture Infrastructure Fund Scheme. By implementing this plan, the infrastructure of the agricultural sector will be enhanced. This article will cover all the pertinent details of the scheme. Reading this article will provide you with comprehensive information about the agriculture infrastructure fund program.
Goals of the Agriculture Infrastructure Fund Program
The fundamental goal of the Agriculture Infrastructure Fund Scheme is to offer a long-term lending facility for investment in financially sound projects for community farming assets and post-harvest management infrastructure. Incentives and financial support will be used to provide this help so that the nation’s agriculture sector can be enhanced. The beneficiaries of this program will include farmers, Agribusiness owners, startups, etc.
Free shipping, music, movies, and more! Give the gift of Amazon Prime.
Disclosure: This link is an affiliate link, meaning, at no additional cost to you, I will earn a commission if you click through and make a purchase.
The level of living for farmers will rise with the adoption of this plan. Farmers will also become independent in addition to that. The revenue of the farmers will also rise as a result of infrastructure improvements. As the majority of Indians work in the agricultural sector, this program will also aid in boosting the nation’s overall economy.
Principal Characteristics of the Agriculture Infrastructure Fund
- This program will be coordinated with all federal and state government programs.
- The project management unit will provide hand-holding assistance for the endeavor, including project planning.
- The extent of the scheme’s financial facility will be 1 trillion dollars.
- Credit guarantee for loans up to Rs 2 crore will be provided.
- The government will subvention interest at a rate of 3% per year, up to a maximum of 2 crores per undertaking.
- There will be a lending rate limit so that interest subsidy reaches the intended recipient.
- If one eligible entity establishes a project in a different location, then all projects will be eligible for a loan of up to 2 crore rupees under the scheme.
- Each such initiative must be located in a municipality with a unique local government directory code.
- The subvention on interest will be available for a maximum of seven years.
- The payment moratorium under the financing facility may differ between six months and two years, with a minimum of six months and a maximum of two years.
Components of the Agriculture Infrastructure Fund Scheme
- Interest subvention cost- A 3% interest subvention per annum will be provided under this component of the scheme, up to a limit of 2 crores. The government will provide the subsidy for a maximum of seven years. The national monitoring committee will determine the percentage of funding allocated to private entrepreneurs.
You May Like
- Credit guarantee cost- Credit guarantee coverage will be offered to qualifying borrowers up to a limit of Rs 2 crore under the credit guarantee fund trust for micro and small enterprises. The government will pay the fees for this coverage.
- The farmer welfare programs implementation society under DSCFW will cover the administrative costs of PMU-PMU support to the scheme at the federal and state levels. To assist beneficiaries, gaps in the supply chain will be rectified in order to focus projects and generate viable project reports.
Eligible Projects Under the Agriculture Infrastructure Fund Scheme
- Project for Post-Harvest Management
- Supply chain services, including an e-marketing platform
- Packing houses
- Units of analysis
- Unit sorting and grading
- Chains of ice
- Logistics services
- Primary processing facilities
- Ripening rooms
Who May Apply for Funds for Agriculture Infrastructure?
- Committee for Agricultural Produce Market
- Agribusiness Owner
- Project involving a centrally sponsored public-private partnership
- The farmer
- Farm Producers’ Association
- The Federation of Farmer Produce Groups
- Mutual Liability Companies
- Sponsored by a local body, a public-private partnership project.
- Marketing Society Cooperative
- Multiple Objective Cooperative Society
- National Cooperative Federations
- Agricultural Credit Society Primary
- Mutual Help Group
- Federations of Self-Help Organizations
- New venture
- State Departments
- State cooperative federations
- Project of state-sponsored public-private partnership
How to Register for the Agriculture Infrastructure Fund Program?
- Visit the Department of Agriculture and Farmer Welfare’s official website first.
- Before you will be the home page.
- You must select the recipient by clicking on it on the homepage.
- You must now select the registration button.
- Before you will be a new page.
- You must input your name, cellphone number, and Aadhar number on this page.
- You then need to select “Send OTP”
- You will now get an OTP.
- Following that, you must input the OTP in the designated field and click Verify.
- You will then be taken to a different page.
- You must complete this page by entering all necessary information.
- After that, you must select “submit.”
- A beneficiary ID will now be sent to your mobile number.
- In order to access the portal, you must log in using the beneficiary ID.
- After that, you must complete the application by providing all the necessary information.
- You must now upload all necessary documents.
- After that, you must select “submit.”
- By following these steps, you can sign up for the program.