PM Modi launches financing facility under Agriculture Infrastructure Fund

Prime Minister Narendra Modi launched the financing facility of Rs 1 lakh crore under the Agriculture Infrastructure Fund via video conferencing.  

New Delhi: Prime Minister Narendra Modi on August 9 launched a financing facility of Rs 1 lakh crore under the Agriculture Infrastructure Fund.

PM Modi also initiated the transfer of Rs 17,000 crore to an estimated 8.5 crore farmers under the PM Kisan Samman Nidhi scheme. According to reports, the event was witnessed by lakhs of farmers, cooperatives, and citizens across the country. Union Minister of Agriculture and Farmers’ Welfare, Narendra Singh Tomar was present on the occasion.

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The Rs 1 lakh crore will catalyse the creation of post-harvest management infrastructure and community farming assets such as cold storage, collection centres, 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, according to reports.

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