Regarding Agriculture Infrastructure Fund (AIF) sometimes mentioned in the news, consider the following statements:
1. It provides long term debt financing facility for investment in viable projects for post-harvest management.
2. It provides social security to small and marginal farmers through a financial support of Rs.3,000 per month.
3. The duration of the Scheme shall be from 2020 to 2032.
Which of the statements given above is/are correct?
Correct
Statements 1 and 3 are correct, 2 is incorrect.
The Union Cabinet in 2020 approved the Agriculture Infrastructure Fund (National Agriculture Infra Financing Facility) from FY2020 to FY2032. Hence,statement 3 is correct.
It will provide a medium - long term debt financing facility for investment in viable projects for post-harvest management Infrastructure and community farming assets through financial support. Hence, statement 1 is correct.
Benefits:
All loans under this financing facility will have interest subvention of 3% per annum up to a limit of Rs. 2 crore.
Rs. 1 Lakh Crore is provided by banks and financial institutions as loans to
1.Primary Agricultural Credit Societies (PACS),
2.Marketing Cooperative Societies,
3.Farmer Producers Organizations(FPOs),
4.Self Help Group (SHG), Farmers,
5.Joint Liability Groups (JLG),
6.Multipurpose Cooperative Societies,
Agri-entrepreneurs, Startups and Central/State agency or Local Body sponsored Public Private Partnership Projects.
Hence, statement 2 isincorrect
Incorrect
Statements 1 and 3 are correct, 2 is incorrect.
The Union Cabinet in 2020 approved the Agriculture Infrastructure Fund (National Agriculture Infra Financing Facility) from FY2020 to FY2032. Hence,statement 3 is correct.
It will provide a medium - long term debt financing facility for investment in viable projects for post-harvest management Infrastructure and community farming assets through financial support. Hence, statement 1 is correct.
Benefits:
All loans under this financing facility will have interest subvention of 3% per annum up to a limit of Rs. 2 crore.
Rs. 1 Lakh Crore is provided by banks and financial institutions as loans to
1.Primary Agricultural Credit Societies (PACS),
2.Marketing Cooperative Societies,
3.Farmer Producers Organizations(FPOs),
4.Self Help Group (SHG), Farmers,
5.Joint Liability Groups (JLG),
6.Multipurpose Cooperative Societies,
Agri-entrepreneurs, Startups and Central/State agency or Local Body sponsored Public Private Partnership Projects.
Hence, statement 2 isincorrect
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