lndia launches $13.4 bn agri infrastructure fund |
Indian Prime Minister Narendra Modi on Sunday launched a financing facility of 13.4 billion dollars under the Agriculture Infrastructure Fund for agri-entrepreneurs, startups, agri-tech players and farmer groups for post-harvest management and nurturing farm assets. The first sanction of over 133.3 million dollars was made to over 2,280 farmer societies. The event was conducted through a video conference and was attended by hundreds of thousands of farmers. PM Modi also released the sixth instalment of 2.26 billion dollars to more than85 million farmer-beneficiaries under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme. The Prime Minister said this fund will also provide debt financing facilities to farmers and this fund will act as a catalyst for post-harvest management infrastructure and community farming assets. The cash benefit was transferred directly to their Aadhaar verified bank accounts with the press of a button. The scheme has been successful in its objective to provide direct help to farmers when needed. The Prime Minister also appealed to farmers to use fertilisers in lesser quantities. He said the objective of making farmers self-sufficient is being fulfilled through the PM-KISAN scheme.
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