{"id":117489,"date":"2021-07-09T20:29:06","date_gmt":"2021-07-09T14:59:06","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=117489"},"modified":"2021-07-10T12:30:45","modified_gmt":"2021-07-10T07:00:45","slug":"cabinet-approves-modifications-in-financing-facility-under-agriculture-infrastructure-fund","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/cabinet-approves-modifications-in-financing-facility-under-agriculture-infrastructure-fund\/","title":{"rendered":"Cabinet approves modifications in financing facility under \u2018Agriculture Infrastructure Fund\u2019"},"content":{"rendered":"<p><strong>Source: <\/strong><a href=\"https:\/\/pib.gov.in\/PressReleseDetailm.aspx?PRID=1733828\"><strong>PIB<\/strong><\/a><\/p>\n<p><strong>What is the News?<\/strong><\/p>\n<p>The Union Cabinet has approved modifications to the Agriculture Infrastructure Fund (AIF) to increase investment.<\/p>\n<p><strong>About Agriculture Infrastructure Fund(AIF):<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/forumias.com\/blog\/agriculture-infrastructure-fund-crosses-rs-8000-crore-mark\/\"><strong>Agriculture Infrastructure Fund(AIF)<\/strong><\/a> is a Central Sector Scheme launched by the Department of Agriculture Cooperation and Farmers Welfare(DAC&amp;FW), Ministry of Agriculture.<\/li>\n<li><strong>Aim<\/strong>: To provide medium \u2013 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<\/ul>\n<p><strong>Key Changes approved under the Scheme:<\/strong><\/p>\n<p><strong>Extension of Eligibility:<\/strong><\/p>\n<ul>\n<li><strong>Eligibility for credit under the scheme <\/strong>has been extended to State Agencies\/ APMCs, National &amp; State Federations of Cooperatives, Federations of Farmers Producers Organizations(FPOs) and Federations of Self Help Groups (SHGs).<\/li>\n<\/ul>\n<p><strong>Interest Subvention:<\/strong><\/p>\n<ul>\n<li><strong>At present, <\/strong>Interest subvention for a loan upto Rs. 2 crore in one location is eligible under the scheme.<\/li>\n<li><strong>However, <\/strong>from now on entities would be able to get interest subvention of 3% per annum not just for one loan up to \u20b92 crores but for multiple projects at different locations.<\/li>\n<li><strong>But for a private sector entity, <\/strong>there will be a limit of a maximum of 25 such projects. This limitation of 25 projects will not be applicable to State agencies, national and state federations of cooperatives, federations of FPOs, and federation of SHGs.<\/li>\n<li><strong>Further<\/strong>, <strong>for APMCs,<\/strong> interest subvention for a loan upto Rs. 2 crores will be provided for each project of different infrastructure types e.g. cold storage, sorting, grading, and assaying units, silos within the same market yard.<\/li>\n<\/ul>\n<p><strong>Beneficiaries:<\/strong><\/p>\n<ul>\n<li>The power to make necessary changes with regard to the addition or deletion of beneficiaries has been delegated to the Union Minister of Agriculture &amp; Farmers Welfare.<\/li>\n<\/ul>\n<p><strong>Duration of the Scheme: <\/strong><\/p>\n<ul>\n<li>The period of the financial facility has been extended from 4 to 6 years up to 2025-26.<\/li>\n<li>The overall period of the scheme has been extended from 10 to 13 years, i.e upto 2032-33.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Source: PIB What is the News? The Union Cabinet has approved modifications to the Agriculture Infrastructure Fund (AIF) to increase investment. About Agriculture Infrastructure Fund(AIF): Agriculture Infrastructure Fund(AIF) is a Central Sector Scheme launched by the Department of Agriculture Cooperation and Farmers Welfare(DAC&amp;FW), Ministry of Agriculture. Aim: To provide medium \u2013 long term debt financing&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/cabinet-approves-modifications-in-financing-facility-under-agriculture-infrastructure-fund\/\">Continue reading <span class=\"screen-reader-text\">Cabinet approves modifications in financing facility under \u2018Agriculture Infrastructure Fund\u2019<\/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":[9],"tags":[],"class_list":["post-117489","post","type-post","status-publish","format-standard","hentry","category-public","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704666328},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/117489","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=117489"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/117489\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=117489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=117489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=117489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}