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PM Modi launches Rs 1 lakh cr Agriculture Infrastructure Fund to aid farmers

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Narendra Modi, Prime Minister of India

In a bid to provide assistance to farmers to get them a better price for their produce, Prime Minister Narendra Modi launched Rs 1 lakh crore financing facility under Agriculture Infrastructure Fund of the PM KISAN scheme on Sunday, August 9. 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.

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PM Modi also released the sixth instalment of the PM KISAN scheme worth Rs 17,000 crore to around 8.5 lakh farmers. The funds were transferred using the Direct-Benefit Transfer (DBT) to Aadhar5-verified bank accounts of the farmers. With the sixth instalment done, the Government of India has provided Rs 90,000 crore under the PM KISAN scheme to as many as 10 crore farmers.

Also Read: AI, ML and IoT are Deployed in Agriculture to Optimise Crop Yield

During his video address, the PM said that India has a huge opportunity to invest in post-harvest management solutions like warehousing, cold chain, and food processing, and build a global presence in areas such as organic and fortified foods. He also mentioned that this scheme provides a good opportunity for start-ups in agriculture to avail the benefits and scale their operations, thereby creating an ecosystem that reaches farmers in every corner of the country.

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The PM expressed his satisfaction with the pace of implementation of the PM KISAN scheme. He also congratulated states for playing an important role in the implementation and assisting farmers through the entire process from registration all the way to disbursals.

Also Read: Union Cabinet gives a nod to Agriculture Infrastructure Fund

The Union Minister of Agriculture & Farmers’ Welfare, Shri Narendra Singh Tomar, was also present on the occasion.

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