Cabinet approves modifications in financing facility under Agriculture Infrastructure Fund
New Delhi: The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi has given approval to the financial facility under ‘Agriculture Infrastructure Fund.'
New modifications have been introduced in Central Sector Scheme of Financing Facility under ‘Agriculture Infrastructure Fund’.
State Agencies/APMCs, National and State Federations of Cooperatives, Federations of Farmers Producers Organizations (FPOs) and Federations of Self Help Groups (SHGs) are now eligible to financial facility.
At present Interest subvention for a loan upto Rs. 2 crore in one location is eligible under the scheme. In case, one eligible entity puts up projects in different locations then all such projects will be now be eligible for interest subvention for loan upto Rs. 2 crore. However, for a private sector entity there will be a limit of a maximum of 25 such projects.
This limitation of 25 projects will not be applicable to state agencies, national and state federations of cooperatives, federations of FPOs and federation of SHGs.
Coconut Development Board (Amendment ) Bill, 2021:
As per the amendments approved by the Cabinet, the Post of ‘Chairman’ of the Coconut Development Board has been made non- Executive and the executive powers are assigned to the Chief Executive Officer (CEO) of the Board.
Both will be appointed by the Central Government. The role of non-Executive Chairman will be defined in the rules under the Act.