Sitharaman announces setting up of ₹1 lakh crore agri infrastructure fund

Union Finance Minister Nirmala Sitharaman on Friday (May 15) announced setting up of a ₹1 lakh crore agriculture infrastructure fund for farm-gate infrastructure.

This fund will be used for setting up cold chains and post-harvest management infrastructure, she said while announcing the third tranche of COVID-19 relief package.

She also announced a ₹10,000 crore scheme for formalisation of micro food enterprises (MFE).

The scheme will be launched to help 2 lakh MFEs by adopting cluster-based approach such as mango in Uttar Pradesh, kesar in Jammu & Kashmir, bamboo shoots in North-East, chilli in Andhra Pradesh, tapioca in Tamil Nadu.

This fund would help in reaching untapped export markets in view of improved health consciousness.