Agriculture Infrastructure Fund

Agriculture Infrastructure Fund

Launched By:-PM Shri Narendra Modi.

Introduction:-

Central Cabinet approves Central Sector Scheme of financing facility under ‘Agriculture Infrastructure Fund’

The Union Cabinet chaired by the PM Shri Narendra Modi today has given its approval to a new pan India Central Sector Scheme-Agriculture Infrastructure Fund.

AIM:-

The scheme shall provide a medium – long term debt financing facility for investments in viable projects for post-harvest management Infrastructure and community farming assets through interest subvention and financial supports.

SIGNIFICANCE:-

Under the scheme, Rs. One Lakh Crore will be provided by banks and financial institutions as loans for  Agriculture.

The Project by way of facilitating formal credits to farm and farm processing-based activities is expected to create numerous job opportunities in rural areas.

BENEFICIARIES:-

• Primary Agricultural Credit Societies (PACS)
• Marketing Cooperative Societies(MCS)
• Farmer Producers Organizations (FPOs)
• Self Help Group (SHG), Farmers associatin
• Joint Liability Group (JLG)
• Multipurpose Cooperative Society
• Agri-entrepreneur
• Startups
• Aggregation Infrastructure Providers and Central/State agency or Local Body sponsored Public Private Partnership Project.

TIME Period:-

Loan will be disbursed in four years starting with sanction of Rs. 10,000 crores in the current year and Rs. 30,000 crores each in next three financial years.

APPROACH:-

• All loans under this financing facility will have interest subventions of 3% per annum up to a limit of Rs. 2 crores.
• This subvention will be available for a maximum period of seven year.
• Further, credit guarantee coverage will be available for eligible borrowers from this financing facility under Credit Guarantee Fund Trust for Micro and Small Enterprises schemes for a loan up to Rs. 2 crore.
• The fee for this coverage will be paid by the Governments.

Moratorium for repayment under this financing facility may vary subject to minimum of 6 months and maximum of 2 years.

SCHEME’s OUTLAY:-

The total outflow as budgetary support from Government of India will be Rs.10,736 crores_:

FUND MANAGEMENT:-

• Agri Infra fund will be managed and monitored through an online Management Information System (MIS) platform.
• It will enable all the qualified entities to apply for loan under the fund.

COORDINATION:-

The National, State and District level Monitoring Committees will be set up to ensure real-time monitoring and effective feed-back.

Q.1 Who inaugurates Agriculture Infrastructure Fund Scheme?

• Narendra Modi
• Amit Shah
• Rajnath Singh
• Ramnath Kovind

Q.2 how Much total fund will disbursed in agri infrastructure fund?

• 1 lakh crore
• 2 lakh crore
• 3 lakh crore
• 4 lakh crore

Q.3 Time period for Disbursement of fund in agri infrastructure fund?

• 1Year
• 2Years
• 3Years
• 4Years

Q.4 How many fund is sanctioned for First Year under agri infrastructure fund?

• 10,000Crore
• 20,000Crore
• 30,000Crore
• None of these

Q.5 Agri infra fund is managed and monitorized by?

Q.6 How Much Interest subventions provided on loan upto 2 crore Limit under agri infrastructure fund?

• 1% per annum
• 2%per annum
• 3%per annum
• 4%per annum

Q.7 How many fund is sanctioned for last 3Years under agri infrastructure fund?

• 10,000Crore every year
• 20,000Crore every year
• 30,000Crore every year
• None of these