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The union cabinet approves Rs 1 lakh crore fund for agriculture infrastructure.


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The union cabinet headed by pm approves Rs 1 lakh crore fund for agri infrastructure.

The Agriculture Minister Narendra Singh Tomar said, Union Cabinet has been approved Agriculture Infrastructure Fund of Rs 1 lakh crore, a new pan-India central government the scheme, to provide a medium to long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and financial support.

Under the agriculture infrastructure scheme, Rs 1 lakh crore will be given by the banks and financial institutions as a loan to primary agricultural credit societies (PACS), farmers, joint liability groups (JLG), Farmer Producers Organisations (FPOs), marketing cooperative societies, self-help groups (SHGs), multi-purpose cooperative societies, agri-entrepreneurs, start-ups, aggregation infrastructure providers and central/state agency or local body sponsored public-private partnership projects.

Loans will be disbursed in four years starting with the sanction of Rs 10,000 crore in the current year and Rs 30,000 crore each in the next three financial years. It is expressly targetted to help entrepreneurs, start-ups, agri-tech players and farmer groups.

In order to ensure monitoring and reviewing, each national, state, and district level committees will be organized.

This scheme will be in active for 10 years between the financial year 2020 to 2029.

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The union cabinet approves Rs 1 lakh crore fund for agriculture infrastructure.