State-level agencies and cooperatives will also be entitled to loans as much as Rs 2 cr to create farm gate storage infra and proceing facilities at interest subvention of 3%
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The union cabinet today authorized a number of modifications in to the Rs one trillion Agriculture Infrastructure Fund (AIF), including Agriculture that is bringing Produce Committees (APMCs) or managed mandis within its ambit, a move that the government showcased as the dedication to have them operating.
One key apprehension associated with the protesting farmers up against the three reform functions brought year that is last been that when the laws and regulations enter into impact, the mandis will soon 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, qualified getting loans upto Rs 2 crore to construct farm gate storage space infrastructure and proceing facilities at interest subvention of 3 percent.
The loans have moratorium on payment that may differ from half a year to 2 yrs.
Farm storage space and proceing infrastructure such as silos, packing devices, aaying devices etc. may be taken on underneath the scheme.
Up to now, UP, Rajasthan and Maharashtra will 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 ended up being established within the FY-22 Union Budget by Finance Minister Nirmala Sitharaman.
Today the Cabinet provided its approval that is formal to exact same along side including other key modifications.
“Today’s choice regarding the Union Cabinet is as soon as a reiteration regarding the Centre’s dedication to not just make sure APMCs are not just run however they are strengthened also. Contrary to exactly exactly what happens to be said,” Agriculture Minister Narendra Singh Tomar told reporters following the conference for the case.
The period of financial facility under AIF has been extended from 4 to 6 years upto https://installmentloansgroup.com/payday-loans-ri/ 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 supplied just for loan taken for task in a single location, nonetheless, 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 is likely to be given to each project of various infrastructure types e.g. cool storage space, sorting, grading and aaying units, silos, et inside the market that is same,” the revised tips stated.
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