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Added on : 2020-08-09 15:06:32

Prime Minister Narendra Modi on Sunday launched a new financing scheme under the Rs.1 lakh crore Agriculture Infrastructure Fund meant for setting up storage and processing facilities, which will help farmers get higher prices for their crops, according to government statement.

Mr. Modi launched the scheme via videoconferencing and interacted with farmers across the country. He also released the sixth instalment of funds under the PM-KISAN scheme, which amounted to Rs.17,000 crore to about 8.5 crore farmers.

The first Rs.1,000 crore was sanctioned on Sunday to over 2,280 farmer societies under the Agriculture Infrastructure Fund, which was approved by the Cabinet a month ago, the statement said.

“The scheme will support farmers, PACS [primary agricultural credit societies], FPOs [farmer producer organisations], 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,” the statement said.

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