With India developing at a rapid rate, Punjab CM Bhagwant Singh Mann is making sure that the 'Land of Five Rivers' and its farmers grow along with it. Punjab CM Mann has introduced a plethora of schemes that are improving the livelihood of farmers. One of the many schemes that have helped farmers is the Agriculture Infrastructure Fund Scheme aka AIF Scheme.
Under the Agriculture Infrastructure Fund Scheme, farmers of Punjab can take loans at a cheaper rate of interest. Mann Government's Agriculture Infrastructure Fund is not only decreasing the financial burden on farmers but also cutting down major reasons why farmers of India resort to suicide. It means the Mann Government's AIF Scheme is not only helping farmers financially but also emotionally.
One major example of AIF's success was witnessed when Punjab was named the Best Performing State under the AIF Scheme for 2023-24. With 16,680 projects sanctioned, the state, under CM Bhagwant Singh Mann’s leadership, continued to drive agricultural progress, benefiting over 70% of farmers. From a modest 164 projects sanctioned in 2021-22, Punjab now boasts an impressive 16,680 projects approved as of August 2024, with investments totaling Rs 6,626 crores. These projects range from cold storage units to custom hiring centers, and solar panel installations, significantly boosting the state’s agricultural infrastructure.
AIF scheme is being run only to save farmers from costly loans. The Horticulture Department is the nodal agency in Punjab. The Punjab government is completely focused on the successful implementation of this scheme for the benefit of farmers and agriculture of the state. The positive results of these steps are visible in the state today. Under this scheme, maximum agricultural projects have been approved in Punjab state.
Agriculture Infrastructure Fund Helpline Number
The Horticulture Department has established a WhatsApp helpline (9056092906) to help the potential beneficiaries of the AIF scheme. Through this, people can get information related to the scheme. This is how the benefits are being received.
How Agriculture Infrastructure Fund is financially beneficial for farmers?
Under the Agriculture Infrastructure Fund, a 3% interest subsidy is provided to the beneficiaries for 7 years on term loans worth Rs. 2 crore for setting up post-harvest management as well as infrastructure. The interest rate for banks is 9%. The beneficiaries of the fund can set up a total of 25 projects at different places. The beneficiaries can also avail the benefit of credit and guarantee on their loans. Apart from this, AIF is also providing dual benefits. The scheme can be clubbed with other State and Central schemes/subsidiaries.