The Union Cabinet, on Wednesday (August 28, 2024), expanded the scope of the Agricultural Infrastructure Fund (AIF). The scheme, worth ₹1 lakh crore, would be redesigned to include financial support for Farmers’ Producers Organisations (FPOs) to enhance their financial security and creditworthiness. The Centre said the AIF would be more attractive now and strengthen the farm-related infrastructure facilities in the country.
In a statement, the Centre said that the Cabinet approved the progressive expansion to make it more attractive, impactful and inclusive. “These initiatives aim at expanding the scope of eligible projects and integrate additional supportive measures to foster a robust agricultural infrastructure ecosystem,” the statement said.
“₹47,575 crore has been sanctioned for 74,508 projects under AIF till date. These sanctioned projects have mobilised an investment of ₹ 78,596 crore in the agriculture sector, out of which ₹ 78,433 crore has been mobilised from private entities,” the Centre said, adding that infrastructure projects sanctioned under AIF have helped in generating more than 8.19 lakh rural employment opportunities in the agriculture sector.
“The expansion in the scope of the AIF scheme is poised to further drive growth, improve productivity, enhance farm incomes and contribute to the overall sustainability of agriculture in the country,” the statement said.
