Extension of New Agriculture Marketing Infrastructure Scheme
Extension of New Agriculture Marketing Infrastructure Scheme
The Government of India has extended the Agricultural Marketing Infrastructure (AMI) sub-scheme of the Scheme of Integrated Scheme for Agricultural Marketing (ISAM) up to 30 September 2022. The New AMI Sub-Scheme of ISAM implementation is vested with the Ministry of Food Processing Industries (MoFPI), Government of India.
The Gist of MoFPI Notification
National Bank for Agriculture and Rural Development (NABARD), the Government of India has announced the Extension of the New Agriculture Marketing Infrastructure Scheme up to 30 September 2022 vide a Circular dated 27th April .
To enable banks to submit the subsidy application, the claims in respect of projects where bank loan has been sanctioned from 1st April 2022 to 30th September 2022 can be submitted in the official portal of NABARD within 60 days of disbursal of 1st installment of the loan.
New Agriculture Marketing Infrastructure Scheme
For the creation of agricultural marketing infrastructure, the Directorate of Marketing & Inspection, Ministry of Agriculture and Farmers Welfare, Government of India has launched ‘The Agriculture Marketing Infrastructure (AMI) scheme as a sub-scheme of the Integrated Scheme for Agricultural Marketing (ISAM) scheme. The main objectives of the scheme include the creation of scientific storage capacity with allied facilities in rural areas to meet various requirements of farmers for storing farm produce, processed farm produce, agricultural inputs, etc., and prevention of distress sale by creating the facility of pledge loan and marketing credit.
Importance Announcement of NABARD
The sub-scheme AMI lays special focus on developing and upgrading Gramin Haats as GrAMs through the strengthening of infrastructure. These GrAMs may function as farmer-consumer markets (retail markets) and collection/ aggregation points (spokes) with linkages to the secondary market (hub) with the participation of FPOs and other eligible promoters. Enhancement of farmers’ income is central to the scheme.
- The AMI scheme envisages a back-ended capital subsidy for credit-linked investment in eligible storage and in marketing infrastructure projects.
- The eligible subsidy is 25% or 33.33% of the capital cost depending upon the area and category of beneficiary
- NABARD will release subsidies under the scheme to all the institutions which are eligible for NABARD refinance and to such other institutions Gol may approve for the purpose.
On receipt of subsidy by the Financing Institution, the Utilization Certificate should be submitted by the Financing Institution within 60 days of receipt of the final subsidy.
NABARD will also provide refinance to Commercial Banks, RRBs, StcBs, SCARDBs, Scheduled Urban Cooperative Banks, Scheduled Primary Cooperative Banks (PCBs), and North Eastern Development Financial Corporation (NEDFi), etc., as per the extant policy.
- The rate of interest on refinance will be decided by NABARD from time to time
- Refinance proposal may be submitted as per the existing procedure
- Banks may guide the borrower on the general requirements of the scheme
To know more about the Agriculture Marketing Infrastructure Scheme, click here
Post by Renu Suresh
Renu is experience content writer specialised in compliances and company rules.