The Agriculture Infrastructure Fund (AIF) is a crucial initiative launched by the Indian government to enhance the country’s agricultural infrastructure. It aims to provide financial support for projects related to post-harvest management and community farming assets. Here’s a detailed look at the scheme and its benefits:
1. Scheme Duration and Approval
The AIF was approved by the Union Cabinet in July 2020 as a Central Sector Scheme. It is set to operate from FY2020 to FY2032, providing a 10-year window for investment in agricultural infrastructure.
2. Intended Beneficiaries
The scheme is designed to benefit a wide range of entities involved in the agricultural sector, including Agricultural Produce Market Committees, Agri-Entrepreneurs, Farmer Producers Organizations, Start-Ups, and various state and central agencies.
Img Src:- VikasPedia
3. Eligible Projects under Agriculture Infrastructure Fund
Under the AIF, a variety of projects are eligible for funding, including the production of organic inputs, infrastructure for smart and precision agriculture, logistics facilities, and community farming assets such as hydroponic farming and mushroom farming.
4. Benefits of AIF
One of the key benefits of the AIF is the interest subvention of 3% per annum on all loans, up to a limit of Rs. 2 crore. Additionally, eligible borrowers can avail credit guarantee coverage under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme.
5. How to Apply for AIF
To apply for funding under the AIF, applicants must submit a range of documents, including a bank’s loan application form, identity proof, address proof, and proof of registration. Detailed guidelines can be found on the official website.
Click here To Apply https://agriinfra.dac.gov.in/Home/BeneficiaryRegistration
Conclusion
The Agriculture Infrastructure Fund is a transformative scheme that has the potential to revolutionize India’s agricultural sector. By providing financial support for critical infrastructure projects, the AIF aims to boost productivity, enhance market access, and improve the livelihoods of millions of farmers across the country.
click Here For More Schemes and Latest Information
FAQs
- Who can apply for funding under the AIF?
- The AIF is open to a wide range of entities, including farmers, agricultural entrepreneurs, and cooperatives.
- What types of projects are eligible for funding under the AIF?
- Eligible projects include those related to post-harvest management, organic inputs production, and community farming assets.
- What are the benefits of the AIF for borrowers?
- Borrowers can benefit from a 3% per annum interest subvention and credit guarantee coverage under the CGTMSE scheme.
- How long is the moratorium period for repayment under the AIF?
- The moratorium period can vary but is subject to a minimum of 6 months and a maximum of 2 years.
- Where can I find more information about the AIF?
- Detailed guidelines and application procedures can be found on the official website of the Agriculture Infrastructure Fund.
