FM Sitharaman announces Rs 1 lakh crore fund for agri infrastructure

New Delhi, May 15: Finance Minister Nirmala Sitharaman on Friday announced that Rs 1 lakh crore fund will be created for agriculture infrastructure projects, in the wake of India's efforts to reboot its economy that has been hit hard due to the coronavirus pandemic.

"Financing facility of Rs 1,00,000 crore will be provided for funding agriculture infrastructure projects at farm-gate and aggregation points. Impetus for development pf farm-gate and aggregation point, affordable and financially viable post-harvest management infrastructure," Sitharaman said.

She also announced a Rs 10,000 crore scheme for formalisation of micro food enterprises (MFE).

The scheme will be launched to help 2 lakh MFEs by adopting cluster-based approach such as mango in Uttar Pradesh, kesar in Jammu & Kashmir, bamboo shoots in North-East, chilli in Andhra Pradesh, tapioca in Tamil Nadu.

This fund would help in reaching untapped export markets in view of improved health consciousness.