The Agriculture Infrastructure Fund (AIF) launched by the Government to spur growth in the farm sector has succeeded in mobilising an investment of Rs 73194 crore, according to the Economic Survey released on Monday.
In addition, the Government has been implementing the Agriculture Marketing Infrastructure (AMI) to improve the extent of storage infrastructure. As of 30th April 2024, 48357 projects were sanctioned for storage infrastructure with Rs 4570 crore released as subsidy, and 20878 other projects are also under progress with Rs 2084 crore released as subsidy under AMI, the survey points out.
The agriculture sector has registered an average annual growth rate of 4.18 per cent at constant prices over the last five years. As per provisional estimates for 2023-24, the growth rate of the agriculture sector stood at 1.4 per cent at constant prices due to the erratic monsoon.
The survey also highlights that allied sectors of Indian agriculture …