ANNOUNCEMENT 15 May 2020

India has announced several schemes to support the agricultural economy affected by the COVID-19 pandemic.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE

Presentation of details of 3rd Tranche by Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman under Aatmanirbhar Bharat Abhiyaan to support Indian economy in fight against COVID-19

http://164.100.117.97/WriteReadData/userfiles/Aatma%20Nirbhar%20Bharat%20Presentation%20Part-3%20Agriculture%2015-5-2020%20revised.pdf

https://pib.gov.in/PressReleasePage.aspx?PRID=1624104

Cabinet approves Central Sector Scheme of financing facility under 'Agriculture Infrastructure Fund'
https://pib.gov.in/PressReleasePage.aspx?PRID=1637221

Inception date: No inception date

State aid, unspecified

On 12 May 2020, the Indian Prime Minister had announced that INR 2 million crores (~ USD 266.34 billion) will be allocated to support the economy affected by the COVID-19 pandemic. 

On 15 May 2020, the India Finance Minister announced the measures as part of the package to support the agricultural economy.  

  • INR 100,000 crore (~USD 13.18 billion) to provide funding for post-harvest management agriculture infrastructure projects at farm-gate and aggregation points.
  • INR 10,000 crore (~USD 1.32 billion) has been allocated for a scheme to fund the formalization of micro food enterprises, farmer producer organizations, self-help groups, and cooperatives. The scheme will aim to improve the food and safety standards and provide better integration with the retail markets.
  • INR 15,000 crore (~USD 1.98 billion) has been announced to set up an Animal Husbandry Infrastructure Fund that will provide support to investments in dairy processing, value addition, cattle feed infrastructure, and incentivizing the establishment of plants for exports of niche products.
  • INR 20,000 crore (~USD 2.64 billion) has been announced for the scheme called the Pradhan Mantri Matsay Sampada Yojana (PMMSY) to fund the fisheries value chain. INR 11,000 crore (~USD 1.45 billion) has been allocated for marine, inland fisheries, and aquaculture and INR 9000 crore (~USD 1.19 billion) have been allocated for infrastructures such as fishing harbors, cold chain, and markets.
  • INR 4000 crore (~USD 527 million) has been announced for the cultivation of herbal and medicinal plants.
  • INR 500 crore (~USD 65.92 million) has been allocated for schemes for beekeeping development. These will include infrastructural development, implementation of standards, capacity building and development.
  • A scheme to subsidize transportation and storage costs of farm produce has been extended from the Tomatoes, Onion, and Potatoes to all fruits and vegetables. An additional INR 500 crore (~USD 65.92 million) has been allocated for the scheme

* INR to USD on 15 May 2020 - INR 75.86/USD

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