Cabinet approves decision letting APMCs borrow from Rs 1 lakh crore agri fund; Coconut Board chairman to be non-executive

For APMCs, interest subvention for a loan upto Rs 2 crore will be provided for each project of different infrastructure types, eg, cold storage, sorting, grading and assaying units, silos, etc, within the same market yard, the PIB said The Union Cabinet on Friday approved changes into the Rs 1 lakh crore Agriculture Infrastructure Fund announced in December, now allowing even APMCs to seek funds for infrastructure development in their yards as well as allowing state agencies as well as federations and cooperatives of farmers and self help groups to take up more such projects. APMCs can seek funds from Agriculture Infrastructure Fund Addressing reporters on Thursday, Union agriculture minister Narendra Singh Tomar said that the Centre will allow APMCs to use funds from the Rs 1 lakh crore allocated under the Agriculture Infrastructure Fund to develop infrastructure related projects. Now, a decision has been taken that Rs 1 lakh crore to Agriculture Infrastructure Fund allocated under Atmanirbhar Bharat scheme can be used by APMCs,” Tomar said. For APMCs, interest subvention for a loan upto Rs 2 crore will be provided for each project of different infrastructure types, eg, cold storage, sorting, grading and assaying units, silos, etc, within the same market yard.