29th April, 2021
The central government has received 8,665 applications for loans of Rs 8,216 crore under the Agricultural Infrastructure Fund (AIF) scheme. AIF has been introduced to improve its post-harvest management infrastructure. The scheme has been implemented for 10 years from the last financial year (2020-21). Under this scheme, banks and financial institutions aim to disburse a total of one lakh crore rupees for developing agricultural infrastructure. On this, the government will give a three percent interest rebate. For loans up to three crore rupees, a credit will be guaranteed through the Credit Guarantee Fund Trust (CGTMSE) for Micro and Small Enterprises.
The Ministry of Agriculture said in a statement that the Agricultural Infrastructure Fund has crossed the Rs 8,000 crore mark after receiving 8,665 applications worth Rs 8,216 crore. Out of these applications, loans worth more than Rs 4,000 crore have been sanctioned so far.
According to the ministry, the maximum number of applications have been received from agricultural entrepreneurs and individual farmers. After that, Primary Agricultural Credit Societies (PACS) have also shown readiness to take full advantage of this scheme.
As far as states are concerned, Andhra Pradesh has received the highest number of 2,125 applications. Farmers and PACS of Madhya Pradesh (1,830), Uttar Pradesh (1,255), Karnataka (1,071) and Rajasthan (613) have also applied in large numbers.
It is noteworthy that after this scheme, interest of people in new infrastructure schemes like custom hiring centers and farm machinery banks has increased. So far, 130 applications have been received for this field. At the same time, about 200 applications are in the field of infrastructure development for smart and precision agriculture. The ministry said that it has created a portal where shareholders can submit applications for these schemes. The progress of applications can also be monitored through this portal.