Sign In
Learn bits
Economy
Pradeep Kumar

09/07/21 11:20 AM IST

Agri Infra Fund loans

In news

The Centre has decided to allow state-run market yards to access financing facilities through its Agricultural Infrastructure Fund to calm the fears of protesting farmers that such market yards are being weakened

Details
  • The Union Cabinet decided to extend the Central Sector Scheme of financing facility under the Agriculture Infrastructure Fund to State agencies and Agricultural Produce Marketing Committees (APMCs), as well as federations of cooperative organisations, Farmers Producers Organizations and self help groups.
  • They will now be eligible for interest subvention for loans up to ₹2 crore, with APMCs allowed to access separate loans for different kinds of infrastructure projects to build cold storage, silos, sorting, grading and assaying units in their market yards.
Significance
  • The period of the financial facility has been extended by two additional years up to 2025-26, while the overall period of the scheme has been extended to 2032-33.
  • “The modifications in the Scheme will help to achieve a multiplier effect in generating investments while ensuring that the benefits reach small and marginal farmers.
  • The APMC markets are set up to provide market linkages and create an ecosystem of post-harvest public infrastructure open to all farmers.
Source: The Hindu

More Related Current Affairs View All

05 Mar

First-ever comprehensive survey of India’s river dolphins

'Prime Minister Narendra Modi released the results of the first-ever comprehensive population estimation of riverine dolphins – Gangetic and Indus dolphins – done in In

Read More

05 Mar

Arresting women at night

'The Madurai Bench of the Madras High Court in Deepa versus S. Vijayalakshmi and Others ruled that the legal provision in the Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023, which

Read More

05 Mar

Digital Personal Data Protection Act, 2023

'The Ministry of Electronics and Information Technology (MeitY) looking to wrap up public consultations on the draft Rules for the Digital Personal Data Protection Act, 2023 by Mar

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps