State-level agencies and cooperatives are entitled continue reading this to loans as much as Rs 2 cr to construct 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 Agriculture that is bringing Produce Committees (APMCs) or controlled mandis within its ambit, a move that the federal government showcased as the dedication to have them operating.
One key apprehension of this protesting farmers from the three reform functions brought year that is last been that when the laws and regulations come right into impact, the mandis would be dismantled, as lured by low fees, trading will move outside their ambit.
Aside from APMCs, the revised guidelines also have made state degree agencies and cooperatives, eligible to have loans upto Rs 2 crore to construct farm gate storage space infrastructure and facilities that are proceing interest subvention of 3 %.
The loans have moratorium on payment that may change from 6 months to 2 yrs.
Farm storage space and infrastructure that is proceing as silos, packing devices, aaying devices etc. may be taken on underneath the scheme.
Thus far, UP, Rajasthan and Maharashtra will be the top three states on tentative allocation of this Rs 100,000 crore Fund.
The choice to add APMCs in to the fold of AIF ended up being established when you look at the FY-22 Union Budget by Finance Minister Nirmala Sitharaman.
Today the Cabinet provided its approval that is formal to same along side including various other key modifications.
“Today’s choice for the Union Cabinet is as soon as a reiteration associated with the Centre’s dedication to not just make certain that APMCs aren’t just run but they are strengthened aswell. As opposed to exactly what happens to be said,” Agriculture Minister Narendra Singh Tomar told reporters following the conference associated with the case.
The period of financial facility under AIF has been extended from 4 to 6 years upto 2025-26 and overall period of the scheme has been extended from 10 to 13 years among the other changes .
Therefore, far under AIF, interest subvention under AIF is provided just for loan taken for project in one single location, but, 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 a financial loan upto Rs. 2 crores is likely to be given to each task of various infrastructure types e.g. cool storage, sorting, grading and aaying devices, silos, et inside the exact same market garden,” the revised tips stated.
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