IndianEra > Government > PM Narendra Modi introduces new 1 Lakh Crore scheme under Agriculture Infrastructure Fund

In a great move, PM Narendra Modi launched a brand-new finance scheme under the Atmanirbhar Bharat Abhiyan Stimulus package.

He introduced the 1 Lakh Crore Agriculture Infrastructure Fund to help farmers increase their profits from selling crops. Under the PM-KISAN scheme, PM Modi has also released the latest, i.e., the sixth installment of funds amounting to 17,000 crores, which will help 8.5 crore farmers.

The finance scheme would primarily help Primary Agricultural Credit Societies (PACS), Farmer Producer Organisations (FPO), and agro-based entrepreneurs to develop farming assets and procure agriculture infrastructure.

PM Modi Introduces Agriculture Scheme

With improved infrastructure, farmers can get better prices for the produce, cut down on waste, enhance processing, and high overall productivity.

At the launch event, PM Modi interacted with PACS from Gujarat, Madhya Pradesh, and Karnataka. He also addressed the country wherein he mentioned that the agricultural sector would “increase India’s ability to compete on the global stage.”

1 Lakh Crore Agriculture Infrastructure Fund

PM Modi also emphasized that this scheme will help India prove its mettle and build a global brand in organic foods and improve its food processing abilities.

As per PM Modi’s statement, the 1 Lakh Crore scheme is a “medium-long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and credit guarantee.”

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Posted by IndianEra, 10/08/2020
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