It will help in creating post-harvest infrastructure in villages and rural areas to generate employment opportunities
National bank for agriculture & rural development or NABARD Assam in Association with State Government has recognized 46 Primary Agricultural Co-operative Societies (PACS) for a monetary aid under Agri- Infra Fund.
This endowment was formally started by Prime Minister of India on August 9, 2020. As a part of the Government of India’s major agri-sector reformation, this will help in creating post-harvest infrastructure in villages and rural areas to generate employment opportunities for a wide range of consumers and activities regarding Agri- start-ups, agri-entrepreneurs and farmers.
S.S Saha, CGM, NABARD, Assam claimed that Fund with a capital of Rs. 1 lakh Crore is proposed to be invested by government of India over a period of 4 years, which will help in accessing credit with a 3% interest subsidy up to a loan of Rs 2 crore further supported with credit guarantee to be parked with NABARD and NCDC. Moratorium for repayment under this financing benefit may vary between 6 months to 2 years.
Saha also said that “in-principle” approval has been accorded by NABARD for 7 out of these 46 PACS recommended by Registrar of Coop Societies (RCS), Government of Assam, with a financial outlay of Rs.4 Crore in bringing out a solution for warehousing, cold storage and food processing units in Assam. He told that with the capital of Rs. 1 lakh crore of this flagship scheme will be a breakthrough for the rural economy in the country.
