Prime Minister Narendra Modi, through a video conferencing on Sunday, launched a financing facility of Rs 1 lakh crore under the Agriculture Infrastructure Fund for agri-entrepreneurs, startups, agri-tech players and farmer groups for nurturing farm assets and post-harvest management. The fund has been launched as part of 'Atmanirbhar Bharat' (self-reliant India) to make farmers self-reliant.
These assets will enable farmers to get greater value for their produce, as they will be able to store and sell at higher prices, reduce wastage, and increase processing and value addition, the government said.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
"Today, our farmers have a choice. If he wants to deal with his produce in his field, he can. Or he can directly connect with the warehouse or whoever pays the higher price," Prime Minister Narendra Modi said, adding "The agriculture sector will benefit a great deal from this modern infrastructure."
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
A loan amount of Rs 1 lakh crore will be made available to the farmers over a period of four years. While Rs 10,000 crore will be made available between 2020 to 2021. Rs 30,000 crore will be provided in each of the remaining three years. Farmers will also receive a subsidy ot three percent on interest, on loan amounting to 2 crore or less up to seven years.
The Prime Minister also released the sixth installment of Rs 17,100 crore to the bank accounts of more than 8.55 crore farmer beneficiaries under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme. Under the PM-KISAN scheme, launched in 2018 and funded by the central government, each farmer receives direct support of up to Rs 6,000 per year as minimum income support.
The funds are directly transferred into the Aadhaar authenticated beneficiaries' bank account to prevent leakage and increase convenience for farmers.
The government said it has already provided a direct cash benefit of over Rs 75,000 crore to more than 9.9 crore farmers.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
