In News:

In an effort to streamline and accelerate investments in India’s agriculture and allied sectors, the Government of India has launched the Krishi Nivesh Portal, developed by the Ministry of Agriculture & Farmers Welfare.

The initiative aligns with the government’s broader goal of promoting the ease of doing business in agriculture by integrating schemes from multiple Central ministries and State governments into a single digital platform.

Key Features of the Portal

• One-Stop Solution: The portal acts as a centralized hub providing real-time access to information on agricultural schemes from various government departments and ministries.
• Multi-Stakeholder Access: It is designed to cater to farmers, entrepreneurs, Farmer Producer Organizations (FPOs), industries, and agri-startups.
• Scheme Integration: As of now, the portal integrates 17 flagship schemes spanning seven Union Ministries, including:
  • Agriculture Infrastructure Fund
  • Animal Husbandry Infrastructure Development Fund
  • PM KisanSampada Yojana
  • PM-KUSUM
• Technological Features: It offers a user-friendly interface, chatbot support, and interactive dashboards for data-driven insights and monitoring.
• Investment Tracking: Users can track application status, explore investment opportunities based on geographical spread, and gain assistance with loan disbursal.

Institutional Integration

• Currently, 14 Union ministries/departments and 9 state government departments are involved in implementing schemes related to agriculture and allied sectors.
• Ministries already integrated include:
  • Ministry of Agriculture
  • Ministry of Food Processing Industries
  • Ministry of Rural Development
  • Ministry of Jal Shakti
  • Ministry of New and Renewable Energy
  • Ministry of Fertilisers

Efforts are underway to onboard over 300 schemes from various ministries and states, including those related to credit-linked initiatives, PPP models, venture capital projects, and startups.

Significance for Agricultural Sector

• The portal addresses key challenges such as fragmented scheme information, siloed departmental operations, and delays in loan processing.
• It aims to unlock the investment potential of India’s agri-sector, especially for private investors, by offering a consolidated, transparent, and accessible interface.
• According to official estimates:
  • The revised budget allocation for FY 2024–25 for agricultural investment schemes stands at ?1.31 lakh crore.
  • In FY 2021–22, private sector investment in agriculture amounted to ?2.79 lakh crore.

In News:

• Recently, the Union agriculture minister Shivraj Singh Chouhan launched two initiatives — a fund aimed at boosting farm-sector startups, and a single-window portal to process investments — as part of a slew of measures being taken by Prime Minister Narendra Modi-led government in its third term to bolster the farm economy.

Key Details:

• AgriSure is a ?750-crore fund established to support agricultural startups.
• Krishi Nivesh Nidhi is a portal designed to expedite the clearance of project proposals.
• Both initiatives aim to enhance farm incomes.

Awards for Credit Disbursal:

• Scheduled banks were recognized for their credit disbursals under the government’s agriculture infrastructure fund.
• First prize: State Bank of India (SBI).
• Second prize: HDFC Bank.
• Third prize: Canara Bank.

Significance of Agriculture Sector:

• Agriculture contributes 16% to India’s GDP.
• Farmers play a crucial role as both producers and consumers in the economy.

PM Modi’s Strategy to Double Farmers’ Incomes:

• The strategy includes:
  • Increasing output.
  • Reducing input costs.
  • Ensuring profitable prices.
  • Promoting crop diversification.
  • Supporting natural farming.
  • Enhancing value addition to crops.

Details of AgriSure Fund:

• Blended capital fund with a total corpus of ?750 crore:
• ?250 crore each from the Department of Agriculture and NABARD.
• ?250 crore to be raised from financial institutions.
• Managed by NabVentures, a subsidiary of NABARD.
• Provides both equity and debt support to startups and agripreneurs.
• Focuses on high-risk, high-impact activities within the agriculture value chain.

Agriculture Infrastructure Fund:

• Mobilized projects worth ?78,000 crore with ?45,000 crore in financing so far.
• Expanded areas of coverage approved by the Union Cabinet on August 28.
• Aims to create durable farm assets, such as warehouses and processing plants.
• Can be used by agricultural produce marketing committees (APMCs) for market facility improvements.

Funding and Loan Details:

• Part of the ?20-lakh crore stimulus package introduced during the Covid-19 pandemic.
• Total funding of ?1 lakh crore over four years:
  • ?10,000 crore for 2020-21.
  • ?30,000 crore each for the subsequent three financial years.
• Provides medium-to-long term debt financing for rural projects.
• Interest subvention of 3% per annum on loans up to ?2 crore for seven years, with the government covering part of the interest.