Punjab records impressive increase in agricultural infrastructure fund during July: Chetan Singh Jaudamajra

Horticulture Minister of Punjab Chetan Singh Jaudamajra today said that the state has registered a spectacular increase in the Agricultural Infrastructure Fund (AIF) during the month of July. He said that the AIF scheme has proved to be instrumental in encouraging the entrepreneurial spirit of Punjab which has led to significant development in the agricultural infrastructure of the state.

Sharing more information about this, Cabinet Minister S. Jaudamajra said that a total of 8411 applications have been received under this scheme across the state till the month of July, which shows the keen interest and enthusiasm of the agriculturists and farmers to invest in setting up various farm-based projects. He said that the total cost of these projects is 4579 crore rupees.

The Cabinet Minister said that the Department of Horticulture is the nodal agency of the state for the AIF scheme, which is playing an important role in this progress by providing assistance and guidance to the applicants.

The Horticulture Minister said that the beneficiaries have applied for a loan amount of Rs.2481 crore, out of which Rs.1395 crore has been approved for 4745 eligible projects and Rs.980 crore has been distributed. He said that this financial assistance will definitely prove more helpful to the farmers and entrepreneurs to implement their agricultural initiatives more effectively and increase the overall productivity.

S. Chetan Singh Joudamajra reiterated that Chief Minister S. The Bhagwant Maan-led government is committed to the welfare and development of farmers and agriculturists in Punjab and the rollout of this scheme by the government is proof of the government’s approach to sustainable agricultural development and farmer empowerment.

The minister said that under the AIF scheme, Punjab has recorded an increase of 117 percent during the first quarter of this financial year as well. 7547 applications have been received till this first quarter as compared to 3480 applications of last financial year. The investment amount of these applications was Rs 4038.08 crore, which is an increase of 40.36 percent over the amount of Rs 2876.98 crore in the previous financial year. He informed that an amount of 1113.46 crores has been sanctioned till June 30 for 3837 eligible projects during the first quarter.

The Cabinet Minister said that a special campaign has been launched by the scheme related department in the state especially in the border districts. Under this scheme, more and more groups are being connected by making farmer groups aware and joint farming is being encouraged.

Farmers can establish many projects related to agriculture under the AIF scheme

Minister of Horticulture Chetan Singh Joudamajra said that the beneficiaries can take advantage of this scheme for various projects, including storage structures, sorting, grading, waxing units, primary processing centers (flour mills, oil mills, dal mills), ripening chambers, packhouses, Crop residue management units/machines, solar pumps, biogas plants, smart and precision agriculture, farm and harvest automation, input production (seeds/tissue culture/nursery/fertilizers), supply chain infrastructure, honey processing, sericulture etc. . Besides some projects are limited to farmer groups like polyhouse/greenhouse, vertical farming, hydroponics/aeroponics, mushroom cultivation, logistic facilities and tractors etc. He said that the beneficiaries can also install solar panels on eligible projects. Beneficiary contribution of at least 10 percent of the amount is required to take a loan under this scheme.

He said that under this scheme, 3 percent interest subsidy is being given for up to 2 crore loans. The benefit of this aid can be availed for up to 7 years and the interest rate is capped at 9 percent. Credit guarantee fees are also paid by the government. He said that each beneficiary can establish 25 projects.