By Anurjay Dhal
BHUBANESWAR: Union PNG-Steel Minister Dharmendra Pradhan and BJP National VP-Spokesperson and former MP, Baijayant ‘Jay’ Panda were on Sunday hailed the Rs 1 Lakh Crore Agriculture Infrastructure Fund announced by the Prime Minister Narendra Modi.
“Thank PM Shri Narendra Modi and FM Smt Nirmala Sitharaman for releasing the 6th instalment of financial assistance under #PMKisan scheme to over 8.5 crore farmers and for initiating financing facility worth ₹1 lakh crore under the Agriculture Infrastructure Fund.
These support initiatives will galvanise our agri-industry against any disruptions, provide financial support for our farmers and help bolster agri-based industry with next-generation technologies, infrastructure and smart farming techniques,” tweeted Dharmendra Pradhan.
“Structural & policy reforms introduced by the #ModiGovt in the farm sector will help reshape the rural economy to meet the expectations of 21st century, create extensive employment in rural areas & help make India more self-reliant in the agriculture sector. #AatmaNirbharKrishi,” the Union Minister said.
The BJP National VP and Spokesperson, Panda in a tweet however accused the Opposition of misguiding people 6 years back. “Today Narendra Modi Ji’s next big step to boost farm productivity & incomes. Launch of ₹1 Lakh cr #AgricultureInfrastructureFund with 28 projects of ₹11.5 k cr. & release of #PMKisan DBT 6th instalment to 85m farmers (helps rational crop choice & not just more surplus grains),” Panda, a 4th times former MP tweeted.
“When he exhorted us to support the SwachhBharatMission 6 years ago, some opponents scoffed, one even said it wasn’t a PM’s job. Today the world lauds the public hygiene turnaround India is seeing. Please support his renewed thrust on it for a new #QuitIndiaMovement,” Panda added.
Earlier, the Prime Minister Narendra Modi launched a new Central Sector Scheme of financing facility under the Agriculture Infrastructure Fund of Rs. 1 Lakh Crore. The scheme will support farmers, PACS, FPOs, Agri-entrepreneurs, etc. in building community farming assets and post-harvest agriculture infrastructure. These assets will enable farmers to get greater value for their produce as they will be able to store and sell at higher prices, reduce wastage, and increase processing and value addition.
Today, only 30 days after Cabinet formally approved the scheme, the first sanction of over Rs. 1000 Crore was made to over 2,280 farmer societies. The event was conducted through video conference and was attended by lakhs of farmers, FPOs, cooperatives, PACS, and citizens joining from across the country.
At the same event, the Prime Minister also released the 6th installment under the PM-KISAN scheme of Rs. 17,000 Crore to nearly 8.5 Crore farmers. The cash benefit was transferred directly to their Aadhaar verified bank accounts with the press of a button. With this transfer, the scheme has provided over 90,000 Crore in the hands of more than 10 Crore farmers since its launch on 01 December 2018.
Prime Minister interacted virtually with 3 Primary Agriculture Credit Societies from Karnataka, Gujarat, and Madhya Pradesh who are among the initial beneficiaries of the scheme. Prime Minister had an engaging discussion with the representatives of these societies to understand their current operations and how they plan to utilise the loan. The societies informed the Prime Minister about their plans to build godowns, setup grading and sorting units which will help member farmers secure a higher price for their produce.
The Agriculture Infrastructure Fund is a medium – long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and credit guarantee. The duration of the scheme shall be from FY2020 to FY2029 (10 years). Under the scheme, Rs. 1 Lakh Crore will be provided by banks and financial institutions as loans with interest subvention of 3% per annum and credit guarantee coverage under CGTMSE scheme for loans up to Rs. 2 Crore. The beneficiaries will include farmers, PACS, Marketing Cooperative Societies, FPOs, SHGs, Joint Liability Groups (JLG), Multipurpose Cooperative Societies, Agri-entrepreneurs, Startups, and Central/State agency or Local Body sponsored Public-Private Partnership Projects.
The PM-KISAN scheme was launched in December 2018 to provide income support by way of a cash benefit to all landholding farmers (subject to certain exclusion criteria) to enable them to fulfill their agricultural requirements and support their families. Under the scheme, the financial benefit of Rs.6000/- per year is provided to eligible beneficiary farmers in three equal installments.
