Why are farmers not ready to take a loan of Rs 2 crore under the Agriculture Infrastructure Fund scheme?

મોદીની યોજના નિષ્ફળ છે.

6 May 2022

One lakh crore rupees have been raised under the Agriculture Infrastructure Fund scheme. In which loans of up to two crore will be given to farmers and other agricultural institutions. Out of 6.70 crore people of Gujarat, 1.30 crore people have taken 7.23 lakh loans of all kinds. Now it has become 0.50 percent more expensive. At that time, questions have also been raised on the loan of farmers for the Agricultural Infrastructure Fund scheme. There is a debt of Rs 98,000 crore on 43 lakh farmers of Gujarat. On an average, a farmer has a loan of Rs 20 lakh. Then farmers are not ready to take new loan. Modi’s plan has failed.

A rebate of 3% will be given on the interest on the loan as well as a bank guarantee by the government on loans up to Rs 2 crore to the lending institution. In which the government will give subsidy on the interest rate. It has been almost two years since this scheme was started, but the progress of the scheme is said to be very slow. The central government has borrowed Rs 22 lakh crore for itself. Modi’s plan has failed.

120 million farmers and about 300 million tonnes of food grains. 33 million women are also connected under 22 lakh SHGs. 10,000 crore has been provided in 2020-21. 30,000 crores per annum in 3 financial years. The entire fund of one lakh crore rupees was to be given to the farmers by 2020-24. Modi’s plan has failed.

Farmers are showing less interest. The fund provides medium and long-term financing for investment in post-harvest structures and community farm assets.

The subsidy will be available for 7 years. The moratorium on loan repayment can be for a minimum of 6 months and a maximum of 2 years.

Banks will not be able to increase rates of their own free will. The central government has set a ceiling of more than 1% for disbursement of loans under this scheme from ‘Marginal Cost of Funds Based Lending Rate’. Banks will not be able to increase the interest rate on a given loan by more than 1%. There will also be an annual interest deposit of 3% at the rate of interest.

By setting up warehouse-like structures, farmers will be able to secure their crops after harvesting at reasonable prices. The government has signed MoUs with 11 public sector banks. By building a warehouse equipped with modern technology, it can be kept safe for a long time.

Rs 1 lakh crore has been earmarked in ’10 years’ from 2020 to 2029. In which Primary Agriculture Credit Societies, Marketing Co-operative Societies, Farmer Producer Associations, Self Help Groups, Joint Liability Groups, Co-operative Societies, Agricultural Entrepreneurs, Startups, Aggregation can take loans for infrastructure.

In the 1980s, annual investment in agriculture was about 11% of the country’s GDP, down from today’s 7%.

To encourage agricultural enterprises to increase investment and adopt modern technology.

If someone is already getting subsidy under another scheme, then he will be able to take advantage of this scheme.

Applications are made on Agri Infra Portal. The online platform offers features like transparency in interest rates offered by multiple banks, scheme details including interest subvention and credit guarantee, minimum documentation, speedy approval process and integration with other scheme benefits.

A better decision can be taken by comparing the loan rates offered by different banks before applying for the loan.

For the scheme, monitoring committees of the Chief Secretary and the Collector at the district level will be constituted in the state. Implementing states.

The members of this committee will be the principal manager of the banks of the district, NABARD. Loans can be obtained at the district level according to the agricultural clusters. If banana is grown in Bharuch, it is preferred.

The subsidy will be sent directly to the beneficiary’s bank account. Finance Management System’ will be provided.