YS Jagan Congratulates PM Modi For Launching Rs 1 Lakh Crore Finance Facility To Farmers

AMARAVATI: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy congratulated Prime Minister Narendra Modi for launching a debt financing facility of Rs 1 lakh-crore under the Agri-Infra Fund that will help create post harvest infrastructure in villages and generate jobs.

The AP CM said the fund which was rolled out by the central government would enable farmers to make use of this money to add value to their crops and earn a steady income. He expressed hope that this will help improve our agricultural economy. YS Jagan tweeted about it.

I congratulate Hon'ble PM @narendramodi ji for launching the Agri-Infra fund of ₹ 1 Lakh Cr. This initiative will boost our agricultural economy by enabling farmers to add value to their produce & get sustainable higher incomes. #AatmaNirbharKrishi

— YS Jagan Mohan Reddy (@ysjagan) August 9, 2020

Meanwhile, PM Modi launched the fund through a video conference on the auspicious occasion of Balram Jayanthi, a day when farmers worship plough.

The fund was set up with Rs 1 lakh crore under the Prime Minister's Kisan Yojana Scheme. Through this, Rs 17,000 crore will be distributed to about 8.5 crore farmers in the country by distributing Rs 2,000 each to 8.5 crore farmers under the PM-Kisan scheme.

Speaking on the occasion, PM Modi said that necessary facilities will be provided to maintain crop yields under the Agricultural Infrastructure Fund. Agriculture and Farmer Welfare Minister Narendra Singh Tomar and other officials and farmers participated in the event.

Modi said that this scheme provides a good opportunity for start-ups in agriculture to avail the benefits and scale their operations, thereby creating an ecosystem that reaches farmers in every corner of the country. Modi also interacted with farmers from Karnataka, Gujarat and Madhya Pradesh who are among the initial beneficiaires of the credit facility under this new fund through Primary Agricultural Credit Societies for creating post harvest facilities.

Under the Agri-Infra Fund, about Rs 1 lakh-crore will be sanctioned under the financing facility in partnership with multiple lending institutions as loans to Primary Agri Credit Societies (PACS), farmer groups, Farmer Producer Organisations (FPOs), agri-entrepreneurs, start-ups and agri-tech players.