{"id":104251,"date":"2021-04-30T15:43:04","date_gmt":"2021-04-30T10:13:04","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=104251"},"modified":"2021-04-30T21:34:07","modified_gmt":"2021-04-30T16:04:07","slug":"agriculture-infrastructure-fund-crosses-rs-8000-crore-mark","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/agriculture-infrastructure-fund-crosses-rs-8000-crore-mark\/","title":{"rendered":"&#8220;Agriculture Infrastructure Fund&#8221; crosses Rs. 8,000 crore mark"},"content":{"rendered":"\n<h5><strong>What is the News?<\/strong><\/h5>\n<p><span style=\"color: #000000;\">After receiving around 8,665 applications worth Rs. 8,216 core <a style=\"color: #000000;\" href=\"https:\/\/forumias.com\/blog\/agriculture-infrastructure-fund-crosses-rs-8000-crore-mark\/\" target=\"_blank\" rel=\"noopener\">Agriculture Infrastructure Fund<\/a>(AIF) has crossed the Rs.8000 crore mark.<\/span><\/p>\n<p><strong>Sectors<\/strong>: The largest share of the fund has gone to Primary Agricultural Credit Societies (PACS) (58%). This is followed by agri-entrepreneurs (24%) and individual farmers (13%).<\/p>\n<p><strong>States: <\/strong>Andhra Pradesh has received the highest amount of funds. This is followed by Madhya Pradesh, Uttar Pradesh, Karnataka and\u00a0 Rajasthan.<\/p>\n<h5><strong>About Agriculture Infrastructure Fund(AIF):<\/strong><\/h5>\n<ul>\n<li><strong>Nodal Ministry: <\/strong>It is a Central Sector Scheme launched by the Department of Agriculture Cooperation and Farmers Welfare(DAC&amp;FW).<\/li>\n<li><strong>Aim: <\/strong>To provide medium &#8211; long term debt financing facility for investment in viable projects. This includes post-harvest management Infrastructure and community farming assets through incentives and financial support.<\/li>\n<li><strong>Funding: <\/strong>Under the scheme, banks and financial institutions will provide Rs. 1 Lakh Crore as loans to eligible beneficiaries.<\/li>\n<li><strong>Eligible Beneficiaries: <\/strong>Farmers, FPOs, PACS, Marketing Cooperative Societies, SHGs, Joint Liability Groups(JLG). The beneficiaries also include Agri-entrepreneurs, startups and Central\/State agency or Local Body sponsored Public-Private Partnership Projects.<\/li>\n<li><strong>Lending Institutions: <\/strong>Multiple lending institutions including Commercial Banks, Cooperative Banks, NCDC, NBFCs etc.<\/li>\n<li><strong>Duration of the Scheme: <\/strong>FY2020 to FY2029 (10 years)<\/li>\n<\/ul>\n<h5><strong>Other Key Features of Agriculture Infrastructure Fund:<\/strong><\/h5>\n<ul>\n<li><strong>Firstly, Interest Subvention: <\/strong>Loans will have an interest subvention of 3% per annum up to a limit of Rs. 2 crores. This subvention will be available for a maximum period of seven years.<\/li>\n<li><strong>Secondly, Credit Guarantee: <\/strong>A credit guarantee coverage will be available for eligible borrowers from the scheme. This coverage is provided under Credit Guarantee Fund Trust for Micro and Small Enterprises(CGTMSE) scheme for a loan up to Rs. 2 crores. The government will pay fee for this credit coverage.<\/li>\n<li><strong>Thirdly, Project Management Unit <\/strong>to provide handholding support for projects including project preparation.<\/li>\n<li><strong>Fourthly, The moratorium for repayment of a loan <\/strong>under this financing facility may vary subject to a minimum of 6 months and a maximum of 2 years.<\/li>\n<li><strong>Fifthly, Need-based refinance support<\/strong> will be made available by NABARD to all eligible lending entities.<\/li>\n<\/ul>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=1714482\"><strong>PIB<\/strong><\/a><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the News? After receiving around 8,665 applications worth Rs. 8,216 core Agriculture Infrastructure Fund(AIF) has crossed the Rs.8000 crore mark. Sectors: The largest share of the fund has gone to Primary Agricultural Credit Societies (PACS) (58%). This is followed by agri-entrepreneurs (24%) and individual farmers (13%). States: Andhra Pradesh has received the highest&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/agriculture-infrastructure-fund-crosses-rs-8000-crore-mark\/\">Continue reading <span class=\"screen-reader-text\">&#8220;Agriculture Infrastructure Fund&#8221; crosses Rs. 8,000 crore mark<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[8043,1566,1351,1310,956,9],"tags":[1314],"class_list":["post-104251","post","type-post","status-publish","format-standard","hentry","category-current-affairs-cat","category-daily-factly-articles","category-daily-news","category-daily-news-updates","category-schemes-and-programs","category-public","tag-agri_6","entry"],"jetpack_featured_media_url":"","views":{"total":2,"cached_at":"","cached_date":1699202878},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/104251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=104251"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/104251\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=104251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=104251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=104251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}