Bhagwant Mann AIF Scheme: Punjab is an agricultural state and hence farmers are the backbone. Identifying this, Punjab Chief Minister Bhagwant Mann came up with a unique solution for farmers depending upon loans. Bhagwant Mann government came up with Agriculture Infrastructure Fund through which farmers of Punjab can take loans on a cheaper rate of interest. Mann Government's Agriculture Infrastructure Fund is not only deceasing financial burden from farmers but also cutting down a major reasons why farmers of India resort to suicide. It means Mann Government's AIF Scheme is not only helping farmers financially but also emotionally.
AIF scheme is being run only to save farmers from costly loans. Horticulture Department is the nodal agency in Punjab. The Punjab government is completely focused on the successful implementation of this scheme for the benefit of farmers and agriculture of the state. The positive results of these steps are visible in the state today. Under this scheme, maximum agricultural projects have been approved in Punjab state.
Till 31 December 2023, a total of 8515 projects were sanctioned by the banks of Punjab under this scheme, out of which 7862 projects (i.e. 92 percent projects) with a total cost of more than 3500 crores. Rs 2044 crores of AIF term loans have been distributed to the beneficiaries so far. Once these projects are completed, the agriculture sector will get wings of development. This will greatly benefit the farmers. The nodal agency Horticulture Department has set up a State Level Project Monitoring Unit (SPMU) for effective implementation of the scheme. The Punjab Government is actively engaged with stakeholders at the district and block levels to promote this scheme with full enthusiasm. These figures show strong synergy between the Punjab Government, financial institutions and other stakeholders.
Agriculture Infrastructure Fund Helpline Number
The Horticulture Department has established a WhatsApp helpline (9056092906) to help the potential beneficiaries of the AIF scheme. Through this, people can get information related to the scheme. This is how the benefits are being received
Under the Agriculture Infrastructure Fund, 3% interest subsidy is provided to the beneficiaries for 7 years on term loans worth Rs. 2 crore for setting up post-harvest management as well as infrastructure. The interest rate for banks is 9%. The beneficiaries of the fund can set up a total of 25 projects at different places. The beneficiaries can also avail the benefit of credit and guarantee on their loans. Apart from this, AIF is also providing dual benefit. The scheme can be clubbed with other State and Central schemes/subsidiaries.