This fund was formally launched Prime Minister of India on August 9, 2020. As a part of the Government of India’s major agri-sector reforms, this fund will help in creating post-harvest infrastructure in villages and generate employment opportunities for a wide spectrum of clientele and activities including Agri- start-ups and agri-entrepreneurs, farmers.
S.S Saha, CGM, NABARD, Assam stated that Fund with a capital of Rs. 1 lakh Crore is proposed to be invested by government of India over a period of 4 years, which will help in accessing credit with a 3% interest subsidy up to a loan of Rs 2 crore further supported with credit guarantee to be parked with NABARD and NCDC. Moratorium for repayment under this financing facility may vary between 6-24 months.
Saha also said that “in-principle” approval has been accorded by NABARD for 7 out of these 46 PACS recommended by Registrar of Coop Societies (RCS), Government of Assam, with a financial outlay of Rs.4 Crore in bringing out a solution for warehousing, cold storage and food processing units in Assam. He emphasised that with a capital of Rs. 1 lakh crore this flagship scheme will be a major boost for the rural economy in the country.
Talking about recently launched Central scheme for formation of 10000 new Farmers Producers Organisations (FPOs), the CGM said that the scheme will facilitate development of vibrant and sustainable income oriented farming and for overall socio-economic development and wellbeing of agrarian communities of the nation.
He said that the FPOs will be formed by three implementing agencies across the nation, viz., NABARD, SFAC and NCDC commencing this financial year. NABARD has decided to form 32 FPOs in 16 DDM districts based on product cluster approach. The FPOs
The scheme will be closely monitored by a State level Monitoring Committee under the Chairmanship of Principal Secretary, Agriculture with NABARD as the Member Secretary. Similarly the district level monitoring committees are to be operating under the chairmanship of the Deputy Commissioner and the DDM, NABARD will be the Member secretary in districts where NCDC/SFAC presence is not there.