Ministry of Agriculture Launches BHARAT Campaign

• 19 Jul 2023

The Ministry of Agriculture & Farmers Welfare has launched the BHARAT (Banks Heralding Accelerated Rural & Agriculture Transformation) campaign. This campaign is part of the Agri Infra Fund (AIF) and aims to raise Rs 7200 crore to support agricultural and rural development initiatives.

Key Points:

• Duration and Operational Period: The BHARAT campaign will run for one month, starting from July 15, 2023, to August 15, 2023.
• Purpose of the AIF: The Agri Infra Fund (AIF) was introduced in July 2020 to offer comprehensive financial assistance to farmers, agri-entrepreneurs, FPOs (Farmer Producer Organizations), PACS (Primary Agricultural Credit Societies), Cooperatives, and SHGs (Self-Help Groups).
• The fund's focus is on creating post-harvest management infrastructure and developing community farming assets across the nation.
• Funds: A total of 1 Lakh Crore will be provided by banks and financial institutions as loans under the AIF, with an interest subvention of 3% per annum.
• Credit Available: The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme will offer credit guarantee support for loans up to Rs 2 crore.
• Supervision: The AIF's functioning will be managed and monitored through an online Management Information System (MIS) platform. To ensure effective monitoring and feedback, National, State, and District level monitoring committees will be established.
• Tenure of AIF operations: The AIF's operational period spans from FY2020 to FY2029 (10 years).