Utilization of Agriculture Infrastructure Fund in India

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12 February 2021, New Delhi, IN: The Scheme has provision of a National Level Monitoring Committee (NLMC), State Level Monitoring Committee (SLMC) and District Level Monitoring Committee (DLMC) to monitor the scheme progress. NLMC has been constituted and many States have also formed SLMCs. 1st Meeting of NLMC was held on 26.08.2020. Further, a weekly progress report of the scheme is sent to Cabinet Secretariat. Apart from this, a Central Project Monitoring Unit has been set up to verify the applications for projects received on the Agriculture Infrastructure Fund (AIF) portal. However, the final authority to sanction loans is with the banks after checking details and viability of the projects. As such only eligible and viable projects can get financed under the scheme which will ensure proper utilization of the funds.

As on date Commercial Banks have sanctioned Rs.267.3 Crores loan in respect of total 261 projects of entities other than Primary Agricultural Credit Societies (PACS) for construction of warehouse/cold storage. Of this, Rs. 58.9 crores loan amount has been disbursed so far. In respect of PACS, National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs. 686.2507 Crores loans for total 1342 projects for construction of warehouse/cold storage. As of now NABARD has in-principle sanctioned Rs. 2991 crores loans to PACS under AIF.  

Also Read: Implementation of Scheme for Farmers

This information was given in a written reply by the Union Minister of Agriculture and Farmers Welfare Mr. Narendra Singh Tomar in Rajya Sabha today.

Photo credit: vijay_chennupati on VisualHunt.com / CC BY

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