Government sanctions Rs 6,540 crore via Agri Infra Fund: Agriculture Minister, Narendra Singh Tomar

The Centre has approved over 9,000 applications and sanctioned Rs 6,540 crore so far, for the development of agri-infra projects, Agriculture Minister Narendra Singh Tomar said in Rajya Sabha.

Tomar, in his written reply to the Rajya Sabha, said: “As on date, 16,026 applications for an amount of Rs 10,627 crore have been received on the AIF portal. Out of these, 9,019 applications for Rs 6,540 crore have been sanctioned.”

This amount has been sanctioned under the Agriculture Infra Fund (AIF), under which financing facility is provided for investment in viable projects for post-harvest management Infrastructure and community farming assets through interest subvention and support through credit guarantee facility. AIF with a corpus of Rs 1 lakh crore will be disbursed through loan by 2025-26.

The agri Infra financing scheme covers post-harvest management projects like supply chain services including e-marketing platforms, warehouse, silos, pack-houses, assaying units, sorting & grading units, cold chain, logistics facilities, primary processing centers, ripening chambers and other viable projects. The scheme aims to build community farming assets such as organic input production, bio stimulant production units, infrastructure for smart and precision agriculture, supply chain infrastructure for clusters of crops including exports clusters etc.

All loans up to a limit of Rs 2 crore under this financing facility will have interest subvention of 3% per annum. This subvention will be available for a maximum period of 7 years. In case of loans beyond Rs 2 crore, the interest subvention will be limited up to Rs 2 crore. Agriculture Infrastructure Fund Scheme is a top-up scheme along with all other available state and central government schemes. Any grant or subsidy available under any present or future scheme of Central/State government can be availed for projects in addition to this financing facility. In cases of capital subsidy such amount shall be considered as promoter’s contribution. However, a minimum of 10% of the project cost shall be mandatory as promoter’s contribution

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