Q. Consider the following statements regarding Agriculture Infrastructure Fund.
1. The fund provides medium – long term debt financing facility for investment in viable projects.
2. It is a Central Sector Scheme launched by the Department of Agriculture Cooperation and Farmers Welfare (DAC&FW).
Which of the statements given above is/are correct?
The Union Cabinet has given its approval to the various modifications in Central Sector Scheme of Financing Facility under ‘Agriculture Infrastructure Fund’.
Changes under the Fund:
- Eligibility has now been extended to State Agencies/APMCs, National & State Federations of Cooperatives, Federations of Farmers Producers Organizations (FPOs) and Federations of Self Help Groups (SHGs).
- The power has been delegated to Minister of Agriculture & Farmers Welfare to make necessary changes with regard to addition or deletion of beneficiary.
- The period of financial facility has been extended from 4 to 6 years upto 2025-26 and overall period of the scheme has been extended from 10 to 13 upto 2032-33.
About Agriculture Infrastructure Fund(AIF):
- It is a Central Sector Scheme launched by the Department of Agriculture Cooperation and Farmers Welfare(DAC&FW).
- Aim: To provide medium – long term debt financing facility for investment in viable projects. This includes post-harvest management Infrastructure and community farming assets through incentives and financial support.
- Funding: Under the scheme, banks and financial institutions will provide Rs. 1 Lakh Crore as loans to eligible beneficiaries.
Read more: Agriculture Infrastructure Fund(AIF)