State-level agencies and cooperatives will also be entitled to loans as much as Rs 2 cr to create farm gate storage space infra and proceing facilities at interest subvention of 3%
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The union case today authorized a number of modifications to the Rs one trillion Agriculture Infrastructure Fund (AIF), including bringing Agriculture Produce Market Committees (APMCs) or managed mandis within its ambit, a move that your federal federal federal government showcased as the dedication to have them operating.
One key apprehension of this protesting farmers resistant to the three reform functions brought year that is last been that as soon as the laws and regulations enter into impact, the mandis would be dismantled, as lured by low fees, trading will move outside their ambit.
Aside from APMCs, the revised tips also have made state degree agencies and cooperatives, entitled to obtain loans upto Rs 2 crore to create farm gate official statement storage space infrastructure and facilities that are proceing interest subvention of 3 percent.
The loans have moratorium on payment which will differ from half a year to 2 yrs.
Farm storage space and infrastructure that is proceing as silos, packing devices, aaying units etc. may be taken on beneath the scheme.
To date, UP, Rajasthan and Maharashtra would be the top three states on tentative allocation of this Rs 100,000 crore Fund.
The choice to consist of APMCs to the fold of AIF had been established within the FY-22 Union Budget by Finance Minister Nirmala Sitharaman.
Today the Cabinet provided its approval that is formal to exact exact exact same along side integrating several other key modifications.
“Today’s choice for the Union Cabinet is as soon as a reiteration for the Centre’s dedication to not just make sure that APMCs aren’t just run however they are strengthened too. Contrary to just just what happens to be said,” Agriculture Minister Narendra Singh Tomar told reporters following the conference associated with the case.
Among the list of other changes, the time of economic center under AIF happens to be extended from 3 to 4 years upto 2025-26 and general amount of the scheme is extended from 10 to 13 years .
Therefore, far under AIF, interest subvention under AIF is supplied just for loan taken for task in a single location, nevertheless, henceforth, then all such projects will now become eligible for interest subvention for loan upto Rs 2 crore if an eligible entity puts up projects in different locations.
“For APMCs, interest subvention for the loan upto Rs. 2 crores should be given to each task of various infrastructure types e.g. cool storage space, sorting, grading and aaying devices, silos, et inside the market that is same,” the revised tips stated.
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