NEW DELHI: To boost post-harvest facilities, the government has approved proposals worth Rs 58,000 crore under Agri Infrastructure Fund (AIF) for more than 92,000 projects since its launch four years back.
Sources said that so far these sanctioned projects by the agriculture ministry have mobilised an investment of Rs 91,856 crore in the agriculture sector, out of which a large chunk has been mobilised from private entities.
The AIF which was launched in May, 2020 aims at disbursing Rs 1 lakh crore through banks and financial institutions by the end of FY26. The scheme is operational from 2020-21 to 2032-33.
“While first two years under the fund are considered as gestation period, improved marketing infrastructure and logistics at the farm gate would reduce post-harvest losses and increase farmers’ remuneration,” an official said.
The funds aims at creation of farm gate storage and logistics infrastructure to enable farmers to store and preserve their farm produce properly and sell them in the market at better price with reduced post-harvest losses and lesser number of intermediaries
It facilitates loans upto Rs 2 crore, with a maximum repayment period of 7 years from financial institutions. The fund provides 3 % interest subvention with a cap of 9% on rate of investment. The fund also covers the reimbursement of credit guarantee fees paid by banks.
Borrowers under AIF are to contribute at least 10% of total project cost irrespective of available capital subsidy.
“It connects ecosystem players, fostering collaboration between entrepreneurs and farmers for greater impact and it supports rural industrialization, creating employment opportunities and boosting markets of processed agricultural goods,” according to an agriculture ministry statement in parliament.
The ministry has stated that improved post-harvest management infrastructure like warehouses, Cold stores, sorting and grading units, ripening chambers etc will allow farmers to sell directly to a larger base of consumers and hence, increase value realization for the farmers
Following the implementation of the fund, the agriculture ministry has projected annual savings from post-harvest losses of 1.86 million tonne (MT) and 0.34 MT of horticultural crops.
Officials said to promote clean energy solutions alongside agricultural infrastructure development, the government has allowed convergence between the PM-KUSUM scheme, aimed at providing energy and water security to farmers and AIF. In addition the fund has provision of convergence with pradhan mantri formalisation of micro food processing enterprises (PMFME).
Entities including farmer collectives, farmer producer organizations, cooperatives, primary agricultural credit societies, agricultural produce market committees, agri-entrepreneurs, start-ups avail the fund.
Source: The Financial Express
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