The Role Of Civil Engineering In Developing Urban Agriculture Infrastructure
As the world continues to develop, the importance of agriculture infrastructure cannot be overstated. One of the latest initiatives in India that aims to boost the sector is the Agriculture Infrastructure Fund. This scheme is geared towards increasing the efficiency of the entire agriculture value chain. With the aim of transforming rural India, the scheme was launched as part of the Atmanirbhar Bharat Abhiyan. This is a great opportunity for farmers and entrepreneurs who require financing to create infrastructure related to agriculture.
What is the Agriculture Infrastructure Fund?
The Agriculture Infrastructure Fund is a credit facility that has been designed to facilitate the creation of infrastructure related to agriculture. This fund is specifically geared towards post-harvest management infrastructure and aims to boost the efficiency of agriculture supply chains. The scheme offers a loan amount of fifty thousand crores and has a tenor of ten years. This fund is one of the latest schemes that has been launched by the Indian government in a bid to provide farmers with greater access to credit.
Who is eligible for the Agriculture Infrastructure Fund?
The Agriculture Infrastructure Fund can be availed by a wide range of beneficiaries including as follows:
- Farmers
- Farmers producer organizations (FPOs)
- Primary Agricultural Credit Societies (PACS)
- Marketing Cooperative Societies
- Self-Help Groups (SHGs)
- Startups
- Agri-entrepreneurs
- Central and State agencies engaged in the development of agri-infrastructure
What is the loan amount offered by the Agriculture Infrastructure Fund?
The Agriculture Infrastructure Fund offers a loan amount of fifty thousand crores. The funds can be used for a variety of purposes such as establishing cold storage chains, creating primary processing centers, etc. The loan amount is available at a very competitive rate of interest and can be disbursed based on the requirement of the borrower.
What is the tenor of the Agriculture Infrastructure Fund?
The Agriculture Infrastructure Fund has a tenor of ten years. Borrowers can use the loan to create infrastructure that can last for a decade. This is a great advantage for borrowers as they have a longer period within which they can generate returns from the infrastructure projects they are undertaking. The tenor also gives borrowers a grace period within which to generate income from the infrastructure projects before they begin loan repayments.
What are the benefits of the Agriculture Infrastructure Fund?
There are many benefits that farmers and entrepreneurs can avail from the Agriculture Infrastructure Fund. Some of these include:
- Access to credit: farmers and entrepreneurs can use the Agriculture Infrastructure Fund to get access to much-needed credit
- Development of agri-infrastructure: the Agriculture Infrastructure Fund has been designed to boost the economy by creating agricultural value chains that are efficient and effective
- Lower cost of credit: the fund offers a competitive rate of interest which is lower than most commercial banks and other financial institutions
- Increase in income: the establishment of modern infrastructure in agriculture has the potential to increase the income of farmers and other stakeholders along the value chain
- Creation of rural jobs: the creation of modern infrastructure in agriculture is likely to create many jobs in rural India
How can borrowers apply for the Agriculture Infrastructure Fund?
To apply for the Agriculture Infrastructure Fund, borrowers can visit the website of the lending institution. The application process is simple and requires the applicant to provide information related to their project. Once the application is submitted, the lending institution will verify the information provided and process the application. If approved, the funds will be disbursed directly to the borrower's account.
Conclusion
The Agriculture Infrastructure Fund is a promising initiative that has the potential to transform rural India. The scheme is geared towards creating modern infrastructure in agriculture that can boost the efficiency of agricultural value chains. This is a great opportunity for farmers and entrepreneurs who need financing to establish infrastructure related to agriculture. By establishing modern infrastructure in agriculture, rural India can benefit from increased economic growth, job creation, and increased income.
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