New Delhi: Today i.e. on August 9 at 11 am, PM Narendra Modi will launch a financing facility of one lakh crore rupees under the Agricultural Infrastructure Fund through video conferencing. In July, the government approved the establishment of an agricultural infrastructure fund with a corpus of one lakh crore to extend concessional loans for agricultural infrastructure.

Along with this, PM Modi will also release Rs 17,000 crore under the PM-Kisan Yojana, as the sixth installment for 8.5 lakh crore farmers. The Agricultural Infrastructure Fund is included in a Rs 20 lakh crore stimulus package introduced by Union Finance Minister Nirmala Sitharaman to tackle the global pandemic Corona virus. The tenure of the Agricultural Infrastructure Fund is for 10 years i.e. till 2029. This will help in creating infrastructure related to agriculture sector in rural areas.

It aims to encourage private investment and jobs in rural areas. Under this, about 1 lakh crore rupees will be given by banks and financial institutions in the form of loans to primary agricultural credit societies, farmer groups, farmer producer organizations (FPOs), agri-entrepreneurs, startups and agri-tech players. The loan will be disbursed in four years. 10,000 crore rupees will be distributed in the current year and Rs 30,000 crore every year for the next three financial years.

Also Read:

Kozhikode Plane crash: Safety concerns are being checked on

Andhra reaches heights of Corona cases

Fire erupts out at COVID Care facility in Vijaywada leading to 7 deaths

Kerala plane crash: Body of co-pilot reached Mathura, funeral to be held today