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Sunday, 9 August 2020

PM Modi to give 'one lakh crore gift' to farmers today



Prime Minister Narendra Modi is going to announce a gift of Rs one lakh crore to farmers through video conferencing at 11 am today.  Under the Agricultural Infrastructure Fund, farmers will get financing to get better prices for their crops.
New Delhi: Prime Minister Narendra Modi is going to announce a gift of Rs 1 lakh crore to farmers through video conferencing at 11 am today.  Under the Agricultural Infrastructure Fund, farmers will get financing to get better prices for their crops.




8.5 crore farmers will get Rs 17,000 crore

On this occasion, PM Modi will also release the sixth installment of Rs 17,000 crore to 8.5 crore farmers under the PM-Kisan Yojana.  

Millions of farmers, co-operative societies, and citizens across the country will be involved in the program.  Union Agriculture and Farmer Welfare Minister Narendra Singh Tomar will also be present on the occasion.


This fund has been created for this purpose

The Union Cabinet has approved a Rs 1 lakh crore finance facility under the 'Agricultural Infrastructure Fund'. 

 This fund will help in building infrastructure and (community agricultural assets) such as cold storage, collection center, a processing unit for better management of the crop after harvest.
The launch of these facilities will enable farmers to get a better price for their crops.

  These facilities will enable farmers to store their produce and sell their produce at reasonable prices. 

 Their income will increase.  The food processing facility will enable farmers to get higher value for their crops.
11 government banks signed the agreement

IMPORTANT LINK::

The government is launching a Rs 1 lakh crore finance scheme in agreement with several lenders.  

Of the 12 public sector banks, 11 have already signed MoUs with the Department of Agricultural Cooperation and Farmer Welfare. 

 The government has announced a 3 percent interest subsidy and a loan guarantee of up to Rs 2 crore to the beneficiaries of the scheme to maximize the benefits of the scheme and increase their income.

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