Bengaluru, Jul 15 (PTI) The Centre has received proposals envisaging an investment of Rs 23,000 crore under the Agriculture Infrastructure Fund (AIF), Union Minister for Agriculture and Farmers Welfare Narendra Singh Tomar said on Friday.
The AIF set up in 2020 aims at providing a medium-long term debt financial facility till 2025-26 for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and financial support.
AIF with a corpus of Rs one lakh crore will be disbursed through loan by 2025-26, Ministry officials had said earlier.
“So far we have received proposals worth Rs 23,000 crore, of which the proposals worth Rs 13,000 crore is under consideration,” Tomar said while briefing about the outcome of the two-day National Conference of State Agriculture and Horticulture Ministers here.
He said this fund will be disbursed as a loan to the interested people with “impressive proposals”.
The Union Minister of State for Agriculture and Farmers Welfare Shobha Karandlaje said the loan will be given at a minimal interest rate of three per cent.
Tomar said the progress in the project is good as the States have agreed to utilise the fund.
During the two-day conference, the States were asked to work on a mission mode to popularise natural farming to improve soil health, the Minister noted.
According to him, natural farming is taking place in four lakh hectare in the country, an area which has to be increased further.
The Minister said agricultural exports have touched worth Rs 3.75 lakh crore and most of the goods shipped were organically grown. PTI GMS RS ROH ROH
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