Union Agriculture Minister Launches Portal to Accelerate AIF Claims

Union Agriculture Minister Shivraj Singh Chouhan launched a web portal to expedite interest subvention claims under the Agriculture Infrastructure Fund (AIF). The portal aims to ensure timely and transparent claim settlements, boosting investments and aiding farmers in India. The initiative supports the Modi government's commitment to enhancing farmers' income.

Union Agriculture Minister Shivraj Singh Chouhan on Friday unveiled a new web portal aimed at accelerating the settlement of interest subvention claims submitted by banks under the Agriculture Infrastructure Fund (AIF). To date, Rs 43,000 crore has been sanctioned under this scheme, providing significant financial support to the agricultural sector.

Jointly developed by the Department of Agriculture and NABARD, the portal seeks to automate and expedite the claims process. Minister of State for Agriculture Bhagirath Choudhary, who was also present at the launch, emphasized the Modi government's dedication to increasing farmers' income through various initiatives. The AIF, launched with Rs 1 lakh crore funding, aims to boost crop storage capacity and reduce post-harvest losses.

With Rs 72,000 crore in investments mobilized and Rs 43,000 crore already sanctioned for over 67,000 projects, the automation of credit claims promises to deliver timely settlements. This move enhances transparency, reduces corruption, and ensures accurate calculation of interest subventions. The portal, utilized by banks, the Central Project Management Unit, and NABARD, is expected to significantly cut down processing times, thereby encouraging more agricultural projects and supporting the financial growth of farmers and agri-entrepreneurs.

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