State-level agencies and cooperatives may also be entitled to loans as much as Rs 2 cr to create farm gate storage space infra and proceing facilities at interest subvention of 3%
Govt ways that are mulling relieve income tax burden on foreign AIF investors
Kotak Pre-IPO AIF raises Rs 1,386 cr, to purchase tech-focused businees
Category-III AIFs increasingly forego lock-ins, look to open-ended schemes
Brief shrift for agriculture
E-trading, e-auction platforms for farm produce traction that is gaining
The union case today approved a bunch of changes in to the Rs one trillion Agriculture Infrastructure Fund (AIF), including Agriculture that is bringing Produce Committees (APMCs) or controlled mandis within its ambit, a move that your federal government showcased as the dedication to keep them operating.
One key apprehension for the protesting farmers contrary to the three reform functions brought last 12 months has been that when the legislation enter into impact, the mandis will undoubtedly be dismantled, as lured by low fees, trading will move outside their ambit.
Aside from APMCs, the revised tips also have made state degree agencies and cooperatives, entitled getting loans upto Rs 2 crore to create farm gate storage space infrastructure and facilities that are proceing interest subvention of 3 percent.
A moratorium is had by the loans on payment which will change from 6 months to 2 yrs.
Farm storage space and proceing infrastructure such as silos, packing devices, aaying devices etc. may be taken on underneath the scheme.
To date, UP, Rajasthan and Maharashtra would be the top three states on tentative allocation of this Rs 100,000 crore Fund.
The choice to add APMCs in to the fold of AIF had been announced when you look at the FY-22 Union Budget by Finance Minister Nirmala Sitharaman.
Today the Cabinet offered its formal approval into the exact same along side integrating several other key modifications.
“Today’s choice regarding the Union Cabinet is as soon as a reiteration for the Centre’s dedication to not just make certain that APMCs aren’t just run but they are strengthened also. Contrary to just exactly just what is said,” Agriculture Minister Narendra Singh Tomar told reporters following the conference associated with the cabinet.
The period of financial facility under AIF has been extended from 4 to 6 years upto 2025-26 and overall period of the scheme has been extended from 10 to 13 years among the other changes .
Therefore, far under AIF, interest subvention under AIF is supplied just for loan taken for task in a single location, nevertheless, henceforth, then all such projects will now become eligible for interest subvention for loan upto Rs 2 crore if an eligible entity puts up projects in different locations.
“For APMCs, interest subvention for the loan upto Rs. 2 crores may be given to each task of various infrastructure types e.g. cool storage space, sorting, grading and aaying devices, silos, et inside the exact same market garden,” the revised tips stated.
Busine Standard has always strived difficult to offer information that is up-to-date commentary on developments which can be of great interest for your requirements while having wider governmental and financial implications for the nation and also the globe. Your support and feedback that is constant simple tips to enhance our providing only have made our resolve and dedication to these ideals more powerful. Also of these hard times arising away from , we continue steadily to remain focused on keeping http://www.cashcentralpaydayloans.com/payday-loans-mn/ you informed and updated with legitimate news, respected views and commentary that is incisive topical iues of relevance. We, nevertheless, have demand.
That we can continue to offer you more quality content as we battle the economic impact of the pandemic, we need your support even more, so. Our membership model has seen an encouraging reaction from a lot of you, that have subscribed to the online content. More registration to your online content can just only assist us attain the goals of proclaiming to offer you better still and much more appropriate content. We have confidence in free, reasonable and journalism that is credible. Your help through more subscriptions might help us practise the journalism to which our company is committed.