FM announces setting up of Rs 1 lakh cr agri fund for farm-gate infrastructure.
It will be provided for funding agriculture infrastructure projects at farm-gate and aggregation points.
In a move to strengthen infrastructure in agriculture, Union Finance Minister Nirmala Sitharaman on Friday announced setting up of Rs 1 lakh crore agri infrastructure fund for farm-gate infrastructure.
Financing facility of Rs 1, 00,000 crore will be provided for funding agriculture infrastructure projects at farm-gate and aggregation points. Impetus for development of farm-gate and aggregation point, affordable and financially viable post-harvest management infrastructure,” said Sitharaman.
Scheme for MFE
She also announced a Rs 10,000 crore scheme for formalisation of Micro Food Enterprises (MFE). The scheme will be launched to help 2 lakh MFEs by adopting cluster-based approach such as mango in Uttar Pradesh, kesar in Jammu & Kashmir, bamboo shoots in North-East, chilli in Andhra Pradesh, tapioca in Tamil Nadu. This fund would help in reaching untapped export markets in view of improved health consciousness.
Observing the lack of adequate cold chain and post-harvest management infrastructure in the vicinity of farm gate causes gaps in value chains, Sitharaman said that the fund will be created immediately.
Sitharaman informed the media that the government procured farm produces worth Rs 74,300 crore (as per Minimum Support Price) to improve liquidity for farmers.
She also said that funds transfer worth Rs 18,700 crores has been done under PM KISAN Samman Yojna in the past 2 months and PM Kisan Bima Yojna claims totaling 6,400 cr cleared in last 2 months.
The existing micro food enterprises, farmer producer organisation, self-help groups (SHGs) and cooperatives will be supported. The scheme is expected to improve health and safety standards, integration with retail markets among others.
Rs 20 crore for aquaculture
Sitharaman announces Rs 20,000 cr for aqua culture, infrastructure for fisheries to help raise fish production, exports.
Herbal Cultivation
To promote herbal cultivation in India, the government has committed Rs 4,000 crore. The move is aimed at increasing herbal cultivation to 10 lakh hectare in 2 years. A corridor of medicinal plants will also come up across banks of River Ganga.
In a major announcement, the government extended Operation Greens from Tomatoes, Onion and Potatoes (TOP) to all fruits and vegetables. Operation Greens was a project aimed to stabilise the supply of tomato, onion and potato crops (TOP crops) in India, as well as to ensure their availability around the country, year-round without price volatility.
Rs 500 crore for beekeeping
Rs 500 cr allocated for beekeeping initiatives to benefit 2 lakh beekeepers in rural areas, says Sitharaman.
The announcement is part of the third tranche of the Rs 20 lakh crore economic package announced by Prime Minister Narendra Modi on Tuesday.
It will be provided for funding