PM Modi releases Rs 17,000 crore to eight.5 crore farmers beneath PM-KISAN scheme


New Delhi, August 9

Asserting that the federal government’s agri-reforms are centered on empowering small farmers, Prime Minister Narendra Modi on Sunday launched a financing facility of Rs 1 lakh-crore beneath the Agri-Infra Fund that can assist create publish harvest infrastructure in villages and generate jobs.

Meanwhile, the Prime Minister transferred Rs 17,000 crore instantly into the financial institution accounts of 8.5 crore farmers beneath the PM-KISAN scheme.

Modi additionally mentioned that the nation doesn’t face issues in farm manufacturing however in post-harvest losses and due to this fact efforts are being made to strengthen publish harvest infrastructure services and guarantee higher revenue for farmers.

Modi launched the fund by a video convention on the auspicious event of Balram Jayanthi, a day when farmers worship plough. Agriculture Minister Narendra Singh Tomar and farmers from some states additionally participated within the video convention.

“On this auspicious event, a particular fund of Rs 1 lakh-crore has been launched to create agriculture-related infrastructure services within the nation.

“This will help in creating better storage facilities and modern cold storage chains in villages. Many employment opportunities will get created in villages,” Modi mentioned after the launch.

The Prime Minister reiterated that India has an enormous alternative to put money into post-harvest administration options like warehousing, chilly chain, and meals processing, and construct a world presence in areas akin to natural and fortified meals.

He additionally talked about that this scheme offers a great alternative for start-ups in agriculture to avail the advantages and scale their operations, thereby creating an ecosystem that reaches farmers in each nook of the nation.

Modi additionally interacted with farmers from Karnataka, Gujarat and Madhya Pradesh who’re among the many preliminary beneficiaires of the credit score facility beneath this new fund by Primary Agricultural Credit Societies for creating publish harvest services.

Under the Agri-Infra Fund, about Rs 1 lakh-crore might be sanctioned beneath the financing facility in partnership with a number of lending establishments as loans to Primary Agri Credit Societies (PACS), farmer teams, Farmer Producer Organisations (FPOs), agri-entrepreneurs, start-ups and agri-tech gamers.

Already, 11 of the 12 public sector banks have signed preliminary agreements with the Agriculture Ministry.

Under the fund, about three per cent curiosity subvention and credit score assure of as much as Rs 2 crore might be offered to the beneficiaries to extend the viability of the tasks.

Loans might be disbursed in 4 years beginning with a sanction of Rs 10,000 crore within the present yr and Rs 30,000 crore every within the subsequent three monetary years.

PM releases Rs 17,000 cr to eight.5 cr farmers      

Meanwhile, the Prime Minister transferred Rs 17,000 crore instantly into the financial institution accounts of 8.5 crore farmers beneath the PM-KISAN scheme.

He mentioned the scheme has been profitable in its goal to supply monetary help to farmers with none involvement of middlemen.

The Centre offers Rs 6,000 per yr in three equal instalments beneath the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme that was launched in December 2018.

The Prime Minister “released the 6th installment under the PM-KISAN scheme of Rs 17,000 crore to nearly 8.5 crore farmers. The cash benefit was transferred directly to their Aadhaar verified bank accounts with the press of a button”, an official assertion mentioned.

The quantity was transferred to farmers at a operate organised by video convention to launch monetary facility of Rs 1 lakh crore beneath the Agriculture Infrastructure Fund.

“No middlemen, no commisison. The amount was transferred directly to farmers,” Modi mentioned.

The scheme has been profitable in its goal to supply direct assist to farmers and when wanted, he added.

Modi mentioned the federal government has transferred Rs 75,000 crore to farmers beneath this scheme within the final one-and-a-half years, of which Rs 22,000 crore was remitted through the lockdown interval.

The PM-KISAN scheme was launched to supply revenue help by the use of a money profit to all landholding farmers (topic to sure exclusion standards) to allow them to meet their agricultural necessities and help their households.

With this switch, the scheme has offered over Rs 90,000 crore within the palms of greater than 10 crore farmers since its launch on December 2018, the assertion mentioned. PTI

 



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