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Rs. 17000 Crore transferred by PM to nearly 8.5 Crore farmers under PM-KIASN through direct benefit transfer to Aadhaar linked bank accounts
Rs. 1000 Crore sanctioned to over 2280 farmer societies under Agriculture Infrastructure Fund within 30 days of receiving Cabinet approval for the Central Sector Scheme
Farmers are now ready to be entrepreneurs, in line with the vision of doubling farmers’ income: PM

Prime Minister Shri Narendra Modi today launched a new Central Sector Scheme of financing facility under the Agriculture Infrastructure Fund of Rs. 1 Lakh Crore. The scheme will support farmers, PACS, FPOs, Agri-entrepreneurs, etc. in building community farming assets and post-harvest agriculture infrastructure. These assets will enable farmers to get greater value for their produce as they will be able to store and sell at higher prices, reduce wastage, and increase processing and value addition.

Today, only 30 days after Cabinet formally approved the scheme, the first sanction of over Rs. 1000 Crore was made to over 2,280 farmer societies. The event was conducted through video conference and was attended by lakhs of farmers, FPOs, cooperatives, PACS, and citizens joining from across the country.

At the same event, the Prime Minister also released the 6th installment under the PM-KISAN scheme of Rs. 17,000 Crore to nearly 8.5 Crore farmers. The cash benefit was transferred directly to their Aadhaar verified bank accounts with the press of a button. With this transfer, the scheme has provided over 90,000 Crore in the hands of more than 10 Crore farmers since its launch on 01 December 2018. 

Interaction with Primary Agriculture Credit Societies

Prime Minister interacted virtually with 3 Primary Agriculture Credit Societies from Karnataka, Gujarat, and Madhya Pradesh who are among the initial beneficiaries of the scheme. Prime Minister had an engaging discussion with the representatives of these societies to understand their current operations and how they plan to utilise the loan. The societies informed the  Prime Minister about their plans to build go downs, setup grading and sorting units which will help member farmers secure a higher price for their produce.

Address to the nation

Following his interaction with the Primary Agriculture Credit Societies, in his address to the nation, the Prime Minister expressed confidence in how farmers and the agriculture sector will benefit from the scheme. He said the scheme shall provide a financial boost to the farmers and agriculture sector and increase India’s ability to compete on the global stage.

Prime Minister reiterated that India has a huge opportunity to invest in post-harvest management solutions like warehousing, cold chain, and food processing, and build a global presence in areas such as organic and fortified foods. He also mentioned 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.

Prime Minister expressed his satisfaction with the pace of implementation of the PM-KISAN scheme. He also noted that the scale of the program is so large that the funds released today have reached more people than the entire population of several countries taken together. He also congratulated states for playing an important role in the implementation and assisting farmers through the entire process from registration all the way to disbursals.

The Union Minister of Agriculture & Farmers’ Welfare, Shri Narendra Singh Tomar, was also present on the occasion.

Agriculture Infrastructure Fund

The Agriculture Infrastructure Fund is a medium - long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and credit guarantee. The duration of the scheme shall be from FY2020 to FY2029 (10 years). Under the scheme, Rs. 1 Lakh Crore will be provided by banks and financial institutions as loans with interest subvention of 3% per annum and credit guarantee coverage under CGTMSE scheme for loans up to Rs. 2 Crore. The beneficiaries will include farmers, PACS, Marketing Cooperative Societies, FPOs, SHGs, Joint Liability Groups (JLG), Multipurpose Cooperative Societies, Agri-entrepreneurs, Startups, and Central/State agency or Local Body sponsored Public-Private Partnership Projects.

PM-KISAN

The PM-KISAN scheme was launched in December 2018 to provide income support by way of a cash benefit to all landholding farmers (subject to certain exclusion criteria) to enable them to fulfill their agricultural requirements and support their families. Under the scheme, the financial benefit of Rs.6000/- per year is provided to eligible beneficiary farmers in three equal installments.

A new dawn for the agriculture sector

These steps are the latest in a series of reforms taken by the Government of India under the guidance of the Prime Minister. These measures will collectively herald a new dawn for the agriculture sector in India and show the government’s commitment to championing the cause of ensuring the welfare and sustainability of livelihoods for the farmers of India.

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Prime Minister’s Departure Statement ahead of his visit to Rome and Glasgow
October 28, 2021
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I will be visiting Rome, Italy and the Vatican City, at the invitation of H.E. Prime Minister Mario Draghi, following which I will travel to Glasgow, United Kingdom from 1-2 November 2021 at the invitation of H.E. Prime Minister Boris Johnson.

In Rome, I will attend the 16th G20 Leaders’ Summit, where I will join other G20 Leaders in discussions on global economic and health recovery from the pandemic, sustainable development, and climate change. This will be the first in-person Summit of the G20 since the outbreak of the pandemic in 2020 and will allow us to take stock of the current global situation and exchange ideas on how the G20 can be an engine for strengthening economic resilience and building back inclusively and sustainably from the pandemic.

During my visit to Italy, I will also visit the Vatican City, to call on His Holiness Pope Francis and meet Secretary of State, His Eminence Cardinal Pietro Parolin.

On the sidelines of the G20 Summit, I will also meet with leaders of other partner countries and review the progress in India’s bilateral relations with them.

Following the conclusion of the G20 Summit on 31 October, I will depart for Glasgow to attend the 26th Conference of Parties (COP-26) to the United Nations Framework Convention on Climate Change (UNFCCC). I will be participating in the high-level segment of COP-26 titled ‘World Leaders’ Summit’ (WLS) on 1-2 November, 2021 along with 120 Heads of States/Governments from around the world.

In line with our tradition of living in harmony with nature and culture of deep respect for the planet, we are taking ambitious action on expanding clean & renewable energy, energy efficiency, afforestation and bio-diversity. Today, India is creating new records in collective effort for climate adaptation, mitigation and resilience and forging multilateral alliances. India is among the top countries in the world in terms of installed renewable energy, wind and solar energy capacity.At the WLS, I will share India’s excellent track record on climate action and our achievements.

I will also highlight the need to comprehensively address climate change issues including equitable distribution of carbon space, support for mitigation and adaptation and resilience building measures, mobilization of finance, technology transfer and importance of sustainable lifestylesfor green and inclusive growth.

COP26 Summit will also provide an opportunity to meet with all the stakeholders including leaders of partner countries, innovators and Inter-Governmental Organization and explore the possibilities for further accelerating our clean growth.