New Delhi [India], June 24 (ANI): The Union Cabinet on Wednesday approved setting up of Animal Husbandry Infrastructure Development Fund (AHIDF) amounting to Rs 15,000 crore.
"Union Cabinet approves establishment of Animal Husbandry Infrastructure Development Fund. Government will provide 3 per cent interest subvention to eligible beneficiaries," Union Minister Giriraj Singh said.
Centre had earlier approved the Dairy Infrastructure Development Fund (DIDF) worth Rs 10,000 crore for incentivizing investment by cooperative sector for development of dairy infrastructure. However, the MSMEs and private companies also need to be promoted and incentivized for their participation in processing and value addition infrastructure in the animal husbandry sector, read a statement.
The AHIDF would incentive infrastructure investments in dairy, meat processing and animal feed plants. The eligible beneficiaries under the scheme would be Farmer Producer Organizations (FPOs), MSMEs, Section 8 Companies, private companies and individual entrepreneur with only 10 per cent margin money contribution by them. The balance 90 per cent would be the loan component to be made available to them by scheduled banks. (ANI)