From UPSC perspective, the following things are important :
Prelims level : CSS-AIF
Mains level : AIF
The Union Cabinet has given its approval to a new pan India Central Sector Scheme-Agriculture Infrastructure Fund (CSS-AIF).
Try this question from CSP 2018:
Q.Increase in absolute and per capita real GNP does not connote a higher level of economic development, if:
(a) Industrial output fails to keep pace with agriculture output.
(b) Agriculture output fails to keep pace with industrial output.
(c) Poverty and unemployment increase.
(d) Imports grow faster than exports.
Agriculture Infrastructure Fund
- AIF aims to provide a medium – long term debt financing facility for investment in viable projects for post-harvest management Infrastructure and community farming assets through interest subvention and financial support.
- Under the scheme, Rs. One Lakh Crore will be provided by banks and financial institutions as loans.
- The beneficiaries will include Primary Agricultural Credit Societies (PACS), Marketing Cooperative Societies, Farmer Producers Organizations (FPOs), SHGs, Farmers etc among others.
- The moratorium for repayment under this financing facility may vary subject to a minimum of 6 months and maximum of 2 years.
Management of AIF
- Agri Infra fund will be managed and monitored through an online Management Information System (MIS) platform.
- The National, State and District level Monitoring Committees will be set up to ensure real-time monitoring and effective feedback.
- The duration of the Scheme shall be from FY2020 to FY2029 (10 years).
Benefits of the scheme
- The Project by way of facilitating formal credit to farm and farm processing-based activities is expected to create numerous job opportunities in rural areas.
- It will enable all the qualified entities to apply for a loan under the fund.