New Delhi: PM Modi launched a financing facility of Rs 1 lakh crore under 'Agricultural Infrastructure Fund' through video conferencing. PM Modi also released the sixth installment of Rs 17,000 crore to 8.5 crore farmers under PM Kisan Yojana on the same occasion. Union Agriculture and Farmers Welfare Minister Narendra Singh Tomar was also present on the occasion.

Millions of farmers, cooperatives and citizens from all over the country participated in this program. The Union Cabinet has approved the facility of finance under the 'Agricultural Infrastructure Fund' of Rs 1 lakh crore. Through this fund, cooperation will be made in creating Infrastructure and Community Agricultural Assets such as cold storage, collection centers, processing units for better post harvest management. With the introduction of these facilities, farmers will be able to get a good price for their produce. Farmers will be able to store their produce and sell their produce at a reasonable price, which will increase their income.

The government is starting a scheme of finance of one lakh crore rupees by entering into agreements with several lending institutions. Out of 12 public sector banks, 11 banks have already signed Memorandum of Understanding (MoY) with the Department of Agricultural Cooperation and Farmers Welfare. In order to enable more and more farmers to benefit from this scheme and increase their income, the government has announced a 3% interest subsidy and loan guarantee up to Rs 2 crore to the beneficiaries of the scheme.

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