Modifications in financing

Union Home Minister Amit Shah on Thursday welcomed the decision of the 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.

New Delhi : Congratulating the Prime Minister Narendra Modi ji for this visionary decision which is beneficial for agriculture and farmers, he said that the decision has included State Agencies/Agricultural Produce Market Committee (APMCs), National and State Federations of Cooperatives, Self Help Groups (SHGs) and Federation of Farmers Producers Organizations (FPOs) in in the ‘Agriculture Infrastructure Fund’ and also extended the interest subvention scheme and a guarantee for a loan upto Rs two crore for each project for a maximum of 25 projects.

“With the approval for APMC in the same market premises for various infrastructure projects, it will also provide interest subvention on loans up to Rs. two crore for different infrastructure projects such as cold storages, sorting, grading and evaluation units, and silos”, Mr Shah said.

Reiterating that the Modi government is committed to agriculture and prosperity of farmers, the Home Minister further said 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.

So far, loans up to Rs two 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 two crore.

However, there will be a maximum limit of 25 such projects for a private sector unit.

“This decision of the Modi government will be of great help to cooperative markets to strengthen their infrastructure, for this, on behalf of all the people associated with the agriculture and cooperative sector, I heartily congratulate the Prime Minister, Shri Narendra Modi”, Mr Shah said.

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