Centre nods to 2,000-crore fund for agriculture rural markets upgradation

The Centre on Wednesday approved the creation of a corpus of Rs. 2,000 crore for Agr-Market Infrastructure Fund (AMIF) for development and upgradation of agricultural marketing infrastructure in Gramin Agricultural Markets and Regulated Wholesale Markets.

The AMIF will be created with National Bank for Agriculture and Rural Development (NABARD). It will help provide state governments subsidised loans to develop marketing infrastructure in 585 Agriculture Produce Market Committees (APMCs) and 10,000 Grameen Agricultural Markets (GrAMs).

States may also access the AMIF for innovative integrated market infrastructure projects including 'Hub and Spoke' mode and in Public Private Partnership (PPP) mode.

In these GrAMs, physical and basic infrastructure will be strengthened using Mahatma Gandhi National Rural Employment Gurantee Act (MGNREGA) and other government schemes.

After approval of the AMIF Scheme, the interest subsidy will be provided by the Agriculture Ministry to the NABARD in alignment with annual budget releases during 2018-19 and 2019-20 as well as up to 2024-25.

The scheme being demand driven, its progress is subject to the demands from the states and proposals received from them.

-ANI