Sign In
Learn bits
Schemes & Policies
Mahesh

02/02/24 09:35 AM IST

Cabinet approves extension of Animal Husbandry Infrastructure Development Fund

In News
  • The Union Cabinet chaired by Prime Minister approved the continuation of Animal Husbandry Infrastructure Development Fund (AHIDF) to be implemented under Infrastructure Development Fund (IDF) with an outlay of Rs.29,610.25 crore for another three years up to 2025-26.
Animal Husbandry Infrastructure Development Fund
  • Government of India will provide 3% interest subvention for 8 years including two years of moratorium for loan up to 90% from the scheduled bank and National Cooperative Development Corporation (NCDC), NABARD and NDDB.
  • The eligible entities are individuals, Private Companies, FPO, MSME, Section 8 companies. Now the Dairy Cooperatives will also avail benefits for modernization, strengthening of the dairy plants.
  • Government of India will also provide credit guarantee to the MSME and Dairy Cooperatives up to the 25% of the credit borrowed from the Credit Guarantee Fund of Rs.750 crore.
Significance
  • The scheme will be a channel towards employment generation directly and indirectly to 35 lakh people through entrepreneurship development and aims for wealth creation in the livestock sector.
  • So far, the AHIDF has benefitted directly /indirectly approximately to 15 lakh farmers.
  • AHIDF is emerging a path towards achieving the Prime Minister’s goal of doubling farmers’ income, tapping the livestock sector by bringing the private sector investment, bringing in the latest technologies for processing and value addition, and last but not the least contributing to the Nation’s economy by promoting the export of Livestock products.
  • Such investments in processing and value addition infrastructure by eligible beneficiaries would also promote export of these processed and value- added commodities.
  • Thus investment by incentivisation in AHIDF would not only leverage private investment 7 times but would also motivate farmers to invest more on inputs thereby driving higher productivity leading to increase in farmers income.
Source- PIB

More Related Current Affairs View All

23 Sep

Quad grouping

'Prime Minister Narendra Modi arrived in the United States, where he will participate in the fourth Quad Leaders Summit in Wilmington, Delaware.' Quad s the grouping of four de

Read More

21 Sep

India Achieves Tier 1 Status in Global Cybersecurity Index 2024

' India has secured Tier 1 status in the Global Cybersecurity Index (GCI) 2024, published by the International Telecommunication Union (ITU).' The GCI is a comprehensive assessm

Read More

21 Sep

A new White Revolution

'Operation Flood, launched in 1970, ushered in the White Revolution and transformed the dairy sector in India.' Dairy cooperatives procured 660 lakh kg of milk per day in 2023-2

Read More

India’s First Ai-Driven Magazine Generator

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