Centre makes mandis eligible for loans under Rs 1 trn Agri Infra Fund

Centre makes mandis eligible for loans under Rs 1 trn Agri Infra Fund

State-level agencies and cooperatives may also be entitled to loans up to Rs 2 cr to construct farm gate storage space infra and proceing facilities at interest subvention of 3%

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The union case today authorized a number of modifications in to the Rs one trillion Agriculture Infrastructure Fund (AIF), including bringing Agriculture Produce Market Committees (APMCs) or managed mandis within its ambit, a move that the government showcased as the dedication to have them operating.

One key apprehension associated with the protesting farmers contrary to the three reform functions brought last 12 months has been that when the legislation enter into impact, the mandis will likely be dismantled, as lured by low fees, trading will move outside their ambit.

Aside from APMCs, the revised guidelines have made state degree agencies and cooperatives, qualified getting loans upto Rs 2 crore to construct farm gate storage space infrastructure and proceing facilities at interest subvention of 3 per cent.

The loans have moratorium on payment which will differ from 6 months to 2 yrs.

Farm storage space and proceing infrastructure such as silos, packing devices, aaying devices etc. may be taken on underneath the scheme.

Up to now, UP, Rajasthan and Maharashtra will be the top three states on tentative allocation of this Rs 100,000 crore Fund.

The decision to add APMCs in to the fold of AIF had been established when you look at the FY-22 Union Budget by Finance Minister Nirmala Sitharaman.

Today the Cabinet offered its formal approval to your exact exact exact same along side integrating various other key modifications.

“Today’s choice for the Union Cabinet is when a reiteration associated with Centre’s commitment to not just make certain that APMCs aren’t just run however they are strengthened also. As opposed to exactly what happens to be said,” Agriculture Minister Narendra Singh Tomar told reporters following the conference for the case.

The period of financial facility under AIF has been extended from 4 to 6 years upto 2025-26 and overall period of the scheme has been extended from 10 to 13 years among the other changes .

Therefore, far under AIF, interest subvention under AIF is supplied just for loan taken for task within one location, nevertheless, henceforth, if an qualified entity sets up tasks in numerous places then all such tasks will now be entitled to interest subvention for loan upto Rs 2 crore.

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“For APMCs, interest subvention for a financial loan upto Rs. 2 crores is supposed to be given to each task of various infrastructure types e.g. cool storage space, sorting, grading and aaying devices, silos, et inside the same market yard,” the revised tips stated.

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