Punjab emerges as a frontrunner in implementing AIF Scheme , 2000CR disbursed

Rs. 2000CR disbursed for more than 7600 projects: Chetan Singh Jauramajra

Punjab emerged as a front runner in implementing the Agriculture Infrastructure Fund (AIF) Scheme as the state has sanctioned maximum number of projects in India, disclosed Horticulture Minister Chetan Singh Jauramajra here today.

This week, Punjab achieved a significant milestone, 2000CR disbursed for 7646 projects, totaling Rs. 3500 crores. Of the 8298 sanctioned projects, 92% received term loans, showcasing strong collaboration among the State Nodal Agency, stakeholders, and lending institutions for agricultural infrastructure investments, emphasized the Horticulture Minister.

Chetan Singh Jauramajra highlighted top districts for funds disbursed: Patiala (Rs. 250.3 cr), Ludhiana (Rs. 206.23 cr), Sangrur (Rs. 201.97 cr), Bathinda (Rs. 182.33 cr), and Ferozepur (Rs. 159.59 cr). Post-harvest infrastructure, including processing centers, storage, custom hiring, solar panels, etc., shows diverse applications. Since April 2022, the Horticulture Department, as the state nodal agency, established the State Project Monitoring Unit for effective AIF scheme implementation, actively engaging with stakeholders at district and block levels

The Cabinet Minister said that the department has set up a Whats App helpline (90560-92906) for easy access to information about the scheme, aiming to assist potential beneficiaries.

The AIF Scheme provides 3% interest assistance for 7 years on eligible term loans, with a maximum interest rate of 9%. The benefit, up to Rs.2 Crores, allows beneficiaries to establish up to 25 projects in various locations. Eligible beneficiaries can also avail Credit Guarantee on their loans, and the AIF scheme can be combined with other state and central schemes for double benefits.