Union Cabinet approves India-UAE pact on economic corridor
The aim of the IGFA is to enhance the bilateral relations and to further strengthen the relations between the two countries in the ports, maritime and logistics sectors.
The Union Cabinet on Thursday approved continuation of the Animal Husbandry Infrastructure Development Fund (AHIDF) to be implemented under the Infrastructure Development Fund (IDF) with an outlay of Rs 29,610.25 crore for another three years up to 2025-26.
The scheme will incentivise investments for dairy processing and product diversification, meat processing and product diversification, animal feed plant, breed multiplication farm, animal waste to wealth management (agri-waste management) and veterinary vaccine and drug production facilities.
The Government of India will provide three per cent interest subvention for eight years, including two years of moratorium for loan up to 90 per cent from the scheduled bank and National Cooperative Development Corporation (NCDC), NABARD and NDDB. The eligible entities are individuals, Private Companies, FPO, MSME, Section 8 companies. Now the Dairy Cooperatives will also avail benefits for modernization, strengthening of the dairy plants.
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The Centre will also provide credit guarantee to the MSME and dairy cooperatives up to the 25 per cent of the credit borrowed from the Credit Guarantee Fund of Rs.750 crore.
The AHIDF has so far created an impact by adding 141.04 LLPD (Lakh Ltr. Per Day) of milk processing capacity, 79.24 lakh metric tonne of feed processing capacity and 9.06 Lakh metric tonne of meat processing capacity by adding to the supply chain since the inception of the scheme. The scheme has been able to increase processing capacity by 2-4 per cent in the dairy, meat and animal feed sector.
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