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CCEA approves creation of Agri-Market infrastructure fund for development and upgradation of Gramin Agriculture Markets

Press Information Bureau:  February 07, 2019

Corpus of Rs. 2000 crore to be created with NABARD for development and upgradation of Gramin Agricultural Markets and Regulated Wholesale Markets

New Delhi: The Cabinet Committee of Economic Affairs Chaired by Prime Minister Narendra Modi today gave its approval for the creation of a corpus of Rs. 2000 crore for Agri-Market Infrastructure Fund (AMIF) to be created with NABARD for development and up-gradation of agricultural marketing infrastructure in Gramin Agricultural Markets and Regulated Wholesale Markets.

AMIF  will provide the State/UT Governments subsidized loan for their proposal for developing marketing infrastructure in 585 Agriculture Produce Market Committees (APMCs) and 10,000 Grameen Agricultural Markets (GrAMs).  States may also access AMIF for innovative integrated market infrastructure projects including Hub and Spoke mode and in Public Private Partnership mode.  In these GrAMs, physical and basic infrastructure will be strengthened using MGNREGA and other Government Schemes.

After approval of AMIF Scheme, the interest subsidy will be provided by DAC&FW to NABARD in alignment with annual budget releases during 2018-19 and 2019-20 as well as upto 2024-25.  The Scheme being demand driven, its progress is subject to the demands from the States and proposals received from them.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.