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Cabinet Nod To APMCs Availing Finance From Rs 1 Lakh Crore Fund: Agriculture Minister

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Narendra Singh Tomar reiterated that the regulated mandis is not going to finish (File)

New Delhi:

Mandis of the Agricultural Produce Market Committees (APMC) will now be eligible to avail monetary assist from the Rs 1 lakh crore Agriculture Infrastructure Fund to increase the regulated markets’ capability and supply higher amenities to farmers, Agriculture Minister Narendra Singh Tomar stated on Thursday.

Narendra Tomar additionally asserted that the choice to additional strengthen the Agricultural Produce Market Committees (APMCs) allays the fears of protesting farmers’ that the mandi system can be scrapped as soon as the three controversial agriculture legal guidelines are carried out.

This modification within the central scheme was permitted within the cupboard assembly chaired by Prime Minister Narendra Modi on Thursday.

Briefing the media in regards to the cupboard resolution, Mr Tomar stated: “During the Budget, we had said that APMCs will not end, rather they will be further strengthened. Keeping that in mind, the Cabinet today decided to allow APMCs to utilise the Rs 1 lakh crore financing facility under Agriculture Infrastructure Fund (AIF).”

Stating that there was apprehension that APMCs can be abolished, the minister reiterated that these regulated mandis is not going to finish. “After the implementation of the three farm laws, APMCs will get funds from this agri-infra fund.”

For APMCs, curiosity subvention for a mortgage as much as Rs 2 crore can be supplied for every mission of various infrastructure sorts like chilly storage, sorting, grading and assaying models and silos throughout the identical market yard, he added.

Not solely APMCs, Mrs Tomar stated the monetary facility beneath this fund has been prolonged to state companies, nationwide and state federations, farmer producer organisations (FPOs) in addition to federation of self-help teams (SHGs).

So far, people, organisations, cooperatives, FPOs and agri-start ups and farmers organisations have been eligible to avail subvention of three % every year for loans as much as Rs 2 crore, he added.

Under the AIF, a medium to long-term debt financing facility is supplied for funding in viable initiatives for post-harvest administration infrastructure and group farming property by curiosity subvention and monetary assist.

Among different adjustments within the scheme, the minister stated that at the moment, the curiosity subvention for a mortgage as much as Rs 2 crore in a single location is eligible beneath the scheme.

“In case one eligible entity puts up projects in different locations, then all such projects will now be eligible for interest subvention for loan up to Rs 2 crore,” he stated.

However, for a non-public sector entity, there can be a restrict of a most of 25 such initiatives. However, this limitation is not going to be relevant to state companies, nationwide and state federations of cooperatives, federations of FPOs and federation of SHGs, he stated.

Location will imply the bodily boundary of a village or city having a definite LGD (Local Government Directory) code. Each of such initiatives ought to be in a location having a separate LGD code.

The minister additional stated the interval of the monetary facility has been prolonged from 4 to 6 years as much as 2025-26. The total interval of the scheme has been prolonged from 10 to 13 years as much as 2032-33.

In a separate assertion, the federal government stated the ability has been delegated to the Union Agriculture Minister to make obligatory adjustments with regard to the addition or deletion of beneficiaries in such a fashion in order that the essential spirit of the scheme is just not altered.

The modifications within the scheme will assist to realize a multiplier impact in producing investments whereas guaranteeing that the advantages attain small and marginal farmers, it stated.

(Except for the headline, this story has not been edited by India07 workers and is revealed from a syndicated feed.)

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(THIS STORY HAS NOT BEEN EDITED BY INDIA07 TEAM AND IS AUTO-GENERATED FROM A SYNDICATED FEED.)

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