Nirmala Sitharaman announces the creation of the Rs 1 lakh crore agricultural infrastructure fund

NEW DELHI: The Finance Minister announced on Friday the creation of an agricultural infrastructure fund of Rs 1 lakh crore for infrastructure at the gates of the farm.

This fund will be used to establish cold chains and post-harvest management infrastructure, he said as he announced the third tranche of the aid package.

It also announced a scheme of Rs 10 billion rupees for the formalization of food microenterprises (MFE).

The scheme will be launched to assist 2 lakh MFE by taking a cluster-based approach such as mango in Uttar Pradesh, kesar in Jammu and Kashmir, bamboo shoots in the northeast, Chile in Andhra Pradesh, tapioca in Tamil Nadu.

This fund would help to reach untapped export markets in view of better health awareness.