Article by Darshana Jamindar
Today morning Prime Minister of India Narendra Modi launched a financing facility under Agriculture Infrastructure Fund for the sake of Indian farmers. It will impact the agricultural sector and the welfare of the farmers in India.
PM Modi launched Rupees 1 Lakh Crores worth of Agriculture Infrastructure Fund to provide debt financing for post harvest management Infrastructure & Community farming assets in the country.
The scheme will be implemented soon from August 2020. The scheme launched by Ministry of Agriculture & Farmers Welfare. The Corpus of Rs 1 Lakh Crores for FPOs, SHGs, PACS, Startups and Agri enterpreneurs for other farm processing based activities. Interest subvention of 3 % per annum upto Rs 2 Crores, for a maximum of period of 7 years.Moratorium fro repayment from 6 months upto 2 years.