Agriculture Minister Narendra Singh Tomar on Thursday said Agriculture Produce Marketing Committee (APMCs) won’t be abolished but strengthened after the implementation of farm laws. He further said that Rs 1-lakh-crore agriculture infrastructure fund proposed in the Budget will now be available for APMCs.
“I would like to tell friends from the farmer’s movement that the Centre has worked to fulfil Budget promises. The Rs 1 lakh crore agriculture infrastructure fund in the Budget will now be available for APMCs,” he added.
The decision to include APMCs under the agriculture infrastructure fund was first announced by Finance Minister Nirmala Sitharaman on May 15, 2020. This was made official after the Union Cabinet meeting today.
“It was earlier said APMCs would be strengthened. Efforts will be made to provide more resources to the APMCs.,” Tomar added.
The Union Cabinet gave the approval for extending central scheme of financing facility under ‘Agriculture Infrastructure Fund’ to state Agencies APMCs, National & State Federations of Cooperatives, Federations of Farmers Producers Organizations (FPOs) and Federations of Self Help Groups (SHGs).
The Cabinet said at present, interest subvention for a loan upto Rs 2 crore in one location is eligible under the scheme. In case, one eligible entity puts up projects in different locations then all such projects will now be eligible for interest subvention for loan upto Rs 2 crore. However, for a private sector entity, there will be a limit of a maximum of 25 such projects. This limitation of 25 projects will not be applicable to state agencies, national and state federations of cooperatives, federations of FPOs and federation of SHGs.
The period of the financial facility has been extended from 4 to 6 years up to 2025-26 and the overall period of the scheme has been extended from 10 to 13 upto 2032-33, according to a statement from Cabinet
The Union Cabinet also approved the proposal of the Department of Agriculture, Cooperation and Farmers Welfare to make the post of Chairman, Coconut Development Board a non-executive one. Tomar said it will be beneficial to the Coconut farmers at large.
The announcement was made by Tomar after the first meeting of the reshuffled Union Cabinet and the Council of Minister on Thursday. As many as 43 leaders took oath on Wednesday in the first Union Cabinet reshuffle and expansion after Prime Minister Modi returned to power for a second term in May 2019. The swearing-in ceremony, which took place at Rashtrapati Bhavan amid COVID-19 protocols, came days ahead of the monsoon session of parliament.
