In a significant move to bolster the agriculture sector, Union Agriculture Minister Shivraj Singh Chouhan launched a Rs 750-crore ‘AgriSure’ fund and the KrishiNivesh Portal at a high-profile event held in the capital on Tuesday. The initiatives aim to provide substantial financial support to agritech startups and promote investment in the farm sector.
The ‘AgriSure’ fund, officially named the Agri Fund for Startups & Rural Enterprises, is set to offer both equity and debt capital to emerging startups and ‘agripreneurs’ across the country. The fund, with a budget of Rs 750 crore, is designed to facilitate the growth of innovative agricultural solutions that can enhance productivity and value addition in the sector.
Speaking at the event, Minister Chouhan underscored the critical need for increased investment in agriculture, not only from the government but also from private sectors. “There is a need for investment in agriculture, not only from the government side but also private investments,” Chouhan stated. He emphasized that these investments are crucial to boost production and value addition, ensuring the agriculture sector remains the backbone of the Indian economy.
In addition to the ‘AgriSure’ fund, the Union Minister also launched the KrishiNivesh Portal, an integrated platform designed to centralize investment opportunities and provide vital information to stakeholders. The portal is expected to transform India’s agricultural landscape by making it easier for farmers, entrepreneurs, and industries to access various Central and state government schemes.
The KrishiNivesh Portal will serve as a comprehensive platform to enhance agribusinesses, attract investments, and ultimately improve farmers’ incomes. “This portal will cater to diverse stakeholders, including farmers, entrepreneurs, and industries, by providing easy access to information regarding various Central and state government schemes,” Chouhan noted.
Highlighting the government’s efforts to support the agriculture sector, Chouhan mentioned the Rs 1 lakh crore Agriculture Infrastructure Fund (AIF), which aims to create robust farm-related infrastructure in rural India. He also pointed out the sector’s significant contribution to the Indian economy, noting that agriculture accounts for approximately 18% of the GDP, with an even greater indirect impact as farmers are also the country’s largest consumers.
Chouhan emphasized the importance of innovation in agriculture, calling for new experiments in the sector. He urged small farmers to form groups to engage in large-scale farming, which could lead to increased efficiency and output. The minister also addressed concerns about the excessive use of chemical pesticides and fertilizers, stressing the need to protect soil health and encourage sustainable farming practices.
The event also witnessed the presentation of the AIF Excellence Awards, recognizing the top-performing banks and states under various categories. Among public sector banks, State Bank of India, Canara Bank, Bank of Baroda, Indian Bank, and Punjab National Bank were honored for their efforts. HDFC Bank was recognized as the best-performing private sector bank. In the regional rural banks category, Baroda Rajasthan Kshetriya Grameen Bank, Punjab Grameen Bank, Baroda UP Grameen Bank, Maharashtra Grameen Bank, and Sarva Haryana Grameen Bank received awards for their performance.
The states of Madhya Pradesh, Punjab, Uttar Pradesh, Maharashtra, Karnataka, Gujarat, and Telangana were also recognized for their outstanding performance under the Agriculture Infrastructure Fund.
As the government continues to focus on increasing production, reducing input costs, and ensuring better prices for farm produce, initiatives like ‘AgriSure’ and the KrishiNivesh Portal are expected to play a crucial role in modernizing India’s agriculture sector and enhancing farmers’ incomes.(source- Republic world)
