This Scheme was first published on the “Department of Agriculture, Cooperation & Farmers, Welfare Ministry of Agriculture & Farmers’ Welfare Government of India” website and for more info, you can visit “https://pib.gov.in/PressReleasePage.aspx?PRID=1637221” website

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to the Agricultural Infrastructure Fund in the agricultural sector throughout India, following this scheme, a medium-term loan financing facility available for investment in viable projects for crop management. Will be provided.

Under the scheme, one lakh crores, by banks and financial institutions to primary agricultural credit societies (PACS), marketing cooperatives, farmer producer organizations (FPOs), self-help groups (SHGs), farmers, joint liability groups (JLGs), multipurpose Will be provided as a loan. Cooperative societies, agro-entrepreneurs, small scale industries, aggregation infrastructure providers, and central / state institutions or local bodies sponsored public-private partnership projects

Loans will be disbursed in the coming four years. 10,000 crores in the current year and Rs. 30,000 crores in the next three financial years.

Benefits •All loans under this financing facility 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. •Further, credit guarantee coverage will be available for eligible borrowers from this financing facility under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme for a loan up to Rs. 2 crores. The fee for this coverage will be paid by the Government. •In the case of FPOs the credit guarantee may be availed from the facility created under the FPO promotion scheme of the Department of Agriculture, Cooperation & Farmers Welfare (DACFW). •Moratorium for repayment under this financing facility may vary subject to a minimum of 6 months and a maximum of 2 years.