Chandigarh-Punjab emerged as a frontrunner in implementing the Agriculture Infrastructure Fund (AIF) Scheme as the state has sanctioned maximum number of projects in India, disclosed Horticulture Minister S. Chetan Singh Jauramajra here today.
The Cabinet Minister informed that this week, Punjab reached a significant milestone by disbursing Rs.2000 crores of AIF Term loans benefiting 7646 projects, totaling a projects cost of Rs.3500 crores. Out of the 8298 projects sanctioned till date, 92 percent (i.e. 7646 projects) have received term loans, marking a high disbursal rate along with Madhya Pradesh. These figures highlight robust collaboration between the State Nodal Agency (SNA) i.e. Department of Horticulture, other stakeholders and lending institutions in fostering investments for agricultural infrastructure in the state, emphasized the Horticulture Minister.
Sardar Chetan Singh Jauramajra apprised that the leading districts in terms of disbursed amounts include Patiala (Rs.250.3 cr), Ludhiana (Rs.206.23 cr), Sangrur (Rs.201.97 cr), Bathinda (Rs.182.33 cr) and Ferozepur (Rs.159.59 cr).
He said that the diversity of post-harvest management infrastructure ranges from Primary Processing Centers, Storage Infrastructure (cold stores & dry warehouses), Custom Hiring Centers, Solar Panels on eligible infrastructure, solar pumps etc.
Since April 2022, the Horticulture Department, functioning as the state nodal agency, has established the State Project Monitoring Unit (SPMU) for the AIF scheme's effective implementation. The department actively engages with stakeholders at district and block levels to promote the AIF scheme.
The Cabinet Minister said that the department has set up a WhatsApp helpline (90560-92906) for easy access to information about the scheme, aiming to assist potential beneficiaries.
Notably, the AIF Scheme offers 3% interest assistance for up to 7 years on term loans for eligible activities. The maximum rate of interest that the banks can charge is 9% and the benefit can be availed for an amount up to Rs.2 Crores. Each beneficiary can set up to 25 projects in different locations. Eligible beneficiaries can also avail the benefit of Credit Guarantee on their loans. Besides this, the AIF scheme be combined with numerous other state and central schemes/subsidies to provide double benefit.