Union Minister Shri Shivraj Singh Chouhan said that Modi government is committed to increase farmer’s income taking various measures. He said Agriculture Infrastructure Fund was launched by PM Modi with 1 lakh crore funding in a bid to increase storage capacity for crops and reduce losses for farmers.
He said the newly launched automation of credit claims will ensure timely settlement of claims within a day, which otherwise took months for manual settlement. He said the move will also ensure transparency and check corrupt methods.
Chauhan said the new portal on sharing of farmers experience will enable the farming community to gain from each other’s experiences. He said there are several farmers who are self-experimenting and their successful stories should be brought forward for others to emulate.
Union Minister said that the investments worth ₹72,000 crore have been mobilised with ₹43,000 crore already sanctioned for 67,871 projects under Agriculture Infrastructure Fund till today. Additionally, banks can anticipate quicker settlement of interest subvention claims.
Shivraj Singh Chouhan informed that the automated system would help in calculating accurate eligible interest subvention through the portal avoiding the possible human error in manual processing and also help in faster settlement of the claims.
The portal shall be used by banks, Central Project Management Unit (CPMU) of DA&FW and NABARD. The automation of the interest subvention claim and credit guarantee fee claim processing will help the government in releasing accurate interest subvention, reduce the turn-around time and in turn help the farmers and agri entrepreneurs financially and encourage them to take up more such projects for development of agriculture in the country.
