{"id":2644,"date":"2020-07-13T12:12:35","date_gmt":"2020-07-13T06:42:35","guid":{"rendered":"https:\/\/www.classiciasacademy.com\/blog\/?p=2644"},"modified":"2020-07-13T12:12:35","modified_gmt":"2020-07-13T06:42:35","slug":"cabinet-approval-for-agriculture-infrastructure-fund","status":"publish","type":"post","link":"https:\/\/www.classiciasacademy.com\/blog\/cabinet-approval-for-agriculture-infrastructure-fund\/","title":{"rendered":"Cabinet Approval for Agriculture Infrastructure Fund"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">In News<\/h3>\n\n\n\n<p>The Union Cabinet approved the <strong>\u2018Agriculture Infrastructure Fund<\/strong><strong>\u2019<\/strong>, a\nCentral Sector Scheme.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">In-Detail <\/h3>\n\n\n\n<ul><li>The Union Cabinet chaired by Shri Narendra Modi\nhad approved a new pan-India Central Sector Scheme named<strong> \u2018Agriculture Infrastructure Fund<\/strong><strong>\u2019.<\/strong><\/li><li>Under the scheme, <strong>the banks and financial\ninstitutions will provide Rs. One Lakh Crore as loans for developing\nagriculture infrastructure.<\/strong><\/li><li>The loan beneficiaries under the scheme- Primary\nAgricultural Credit Society (PACS), Marketing Co-operative Societies, Farmers\nProducers Organizations (FPO), Self Help Group (SHG), Joint Liability Groups\n(JLG), Multipurpose Cooperative Society, Startups, Agri-entrepreneurs, Farmers,\nAggregation Infrastructure Providers and Central\/State agency or Local Body\nsponsored by the Public-Private Partnership Project.<\/li><li>For the current year Rs. 10,000 crore is\nsanctioned and Rs. 30,000 crore each for the next three financial years.<\/li><li>The <strong>Credit Guarantee Fund Trust for Micro and\nSmall Enterprises (CGTMSE) scheme will facility credit guarantee coverage for\neligible borrowers, for a loan up to Rs.<\/strong><strong> 2 crore.<\/strong><\/li><li>The FPO promotion scheme of the Department of\nAgriculture, Cooperation and Farmers Welfare (DACFW) provides the credit\nguarantee for FPOs.<\/li><li>The total budgetary support outflow by the\nGovernment of India is Rs. 10,736 crore.<\/li><li>The moratorium under this scheme is a minimum of\n6 months and a maximum of 2 years.<\/li><li>The scheme is monitored and managed by an online\nManagement Information Systems (MIS) platform.<\/li><li>The MIS platform provides benefits such as\nscheme details, transparency of interest rates, minimum documentation, faster\napproval process and integration with other schemes.<\/li><li>To ensure real-time monitoring and effective feed-back\nthe National, State and District level monitoring schemes will be set up.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Features of the Scheme<\/h3>\n\n\n\n<ul><li>The Agriculture Infrastructure Scheme provides a\n<strong>medium-long term debt financing facilities.<\/strong><\/li><li>Provides i<strong>nterest subvention and financial\nsupport for projects like post-harvest management infrastructure and community\nfarming assets.<\/strong><\/li><li><strong>The interest subvention under this scheme is\n3% per annum up to limit of Rs 2 crore and for seven years.<\/strong><\/li><li>The project provides formal credit to farm and\nfarm processing based activities.<\/li><li>Provides job opportunities in rural areas.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Conclusion <\/h3>\n\n\n\n<p>There is a huge in India\u2019s agriculture infrastructure, be it for\npre-harvest or post-harvest activities. Due to the lack of such infrastructure,\nIndian farmers are unable to increase their yields and are losing their\nproduce. The new scheme is set to augment agri-infrastructure and a dedicated\nfund means results will be achieved soon.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>In News The Union Cabinet approved the \u2018Agriculture Infrastructure Fund\u2019, a Central Sector Scheme. In-Detail The Union Cabinet chaired by Shri Narendra Modi had approved <a class=\"mh-excerpt-more\" href=\"https:\/\/www.classiciasacademy.com\/blog\/cabinet-approval-for-agriculture-infrastructure-fund\/\" title=\"Cabinet Approval for Agriculture Infrastructure Fund\">    [read more]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":2645,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[98],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cabinet Approval for Agriculture Infrastructure Fund - UPSC Current Affairs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.classiciasacademy.com\/blog\/cabinet-approval-for-agriculture-infrastructure-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cabinet Approval for Agriculture Infrastructure Fund - UPSC Current Affairs\" \/>\n<meta property=\"og:description\" content=\"In News The Union Cabinet approved the \u2018Agriculture Infrastructure Fund\u2019, a Central Sector Scheme. In-Detail The Union Cabinet chaired by Shri Narendra Modi had approved   [read more]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.classiciasacademy.com\/blog\/cabinet-approval-for-agriculture-infrastructure-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"UPSC Current Affairs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/classiciasacademydelhi\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/classiciasacademydelhi\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-13T06:42:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.classiciasacademy.com\/blog\/wp-content\/uploads\/2020\/07\/Agriculture-Fund.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"678\" \/>\n\t<meta property=\"og:image:height\" content=\"381\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Classic IAS Academy\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@classic_ias\" \/>\n<meta name=\"twitter:site\" content=\"@classic_ias\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Classic IAS Academy\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/cabinet-approval-for-agriculture-infrastructure-fund\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/cabinet-approval-for-agriculture-infrastructure-fund\/\"},\"author\":{\"name\":\"Classic IAS Academy\",\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/#\/schema\/person\/11f000d5c6a57c5e6f655dd75e8f6096\"},\"headline\":\"Cabinet Approval for Agriculture Infrastructure Fund\",\"datePublished\":\"2020-07-13T06:42:35+00:00\",\"dateModified\":\"2020-07-13T06:42:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/cabinet-approval-for-agriculture-infrastructure-fund\/\"},\"wordCount\":381,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/cabinet-approval-for-agriculture-infrastructure-fund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.classiciasacademy.com\/blog\/wp-content\/uploads\/2020\/07\/Agriculture-Fund.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.classiciasacademy.com\/blog\/cabinet-approval-for-agriculture-infrastructure-fund\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.classiciasacademy.com\/blog\/cabinet-approval-for-agriculture-infrastructure-fund\/\",\"url\":\"https:\/\/www.classiciasacademy.com\/blog\/cabinet-approval-for-agriculture-infrastructure-fund\/\",\"name\":\"Cabinet Approval for Agriculture Infrastructure Fund - 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