Speed Post News Network
New Delhi : Union Home Minister Amit Shah on July 8, 2021, welcomed the decision of Prime Minister Narendra Modi for approving modifications in the Central Sector Scheme of financing facility under the ‘Agriculture Infrastructure Fund’ taken at the first cabinet meeting after the expansion of the cabinet.
This decision has included State Agencies/APMCs, National and State Federations of Cooperatives, Self Help Groups (SHGs), and Federation of Farmers Producers Organisations (FPOs) in the ‘Agriculture Infrastructure Fund’ and also extended the interest subvention scheme and a guarantee for a loan up to Rs. 2 crore for each project for a maximum of 25 projects. With the approval for APMC ( Agricultural Produce Market Committee) on the same market premises for various infrastructure projects, it will also provide interest subvention on loans up to Rs 2 crore for different infrastructure projects such as cold storage, sorting, grading, and evaluation units, silos etc.
Shah said that he congratulates the Prime Minister Narendra Modi for this visionary decision which is beneficial for agriculture and farmers. He said that the Modi government is committed to agriculture and prosperity of farmers. He said that this historic decision is a reflection of the resolve of the Modi government to further strengthen the APMC system. This decision will not only further empower the APMCs but will also increase employment opportunities and benefit more and more people, he added, according to a PIB release.
The inclusion of State Agencies/APMCs, National and State Federations of Cooperatives, Self Help Groups (SHGs) and Federation of Farmers Producers Organizations (FPOs) will bring more investment in the agricultural infrastructure sector, which will also generate employment. This decision is a positive step of the Modi government towards making the agriculture sector self-reliant, Shah said.
So far, loans up to Rs 2 crore at one place were eligible for interest subvention under the Agriculture Infrastructure Fund Scheme. Now if an eligible entity takes up projects in different locations, all such projects will be eligible for interest subvention for loans up to Rs 2 crore. However, there will be a maximum limit of 25 such projects. This decision of the Modi government will be of great help to cooperative markets to strengthen their infrastructure, Shah added.