Tamil Nadu   

Agro-based units to be given aid for growth

THENI: The Tamil Nadu Small Farmers Agribusiness Consortium offers venture capital assistance and project development facility for various development programmes for growth and diversification of agriculture and agro-based industries in the district. The main objective of the scheme is to promote agri-business activities for economic efficiency, employment generation and ultimately social equity, according to Collector Har Sahay Meena.

Describing the scheme here on Thursday, he said that the scheme will facilitate setting up of agriculture business ventures with the help of banks. Private investment that assures market for agriculture producers will be encouraged. Backward linkages of agri-business producers with farmers will be strengthened, he outlined. “This scheme will encourage farmers to diversify into high value crops aimed at increasing farm income.”.

It will also support young agriculture graduates and farmers’ groups to participate in value addition through project development facility. Special training will also imparted to farmersto produce quality goods. Financial assistance up to Rs.50 lakh will be given for agri-business projects involving value chain with farmers and food processing.

Loan repayment period is seven years. Venture capital assistance is considered as interest-free loan for the original repayment period fixed by the bank, he added.

Empowerment of rural people, availability of credit, access to technology and assured remunerative prices for their produce through institutional development and funding research and development activities are the other features of the scheme. “This assistance will become a business model ensuring sustainability of partnership among farmers, government, bank and private entrepreneurs.

For further details, farmers and agriculture graduates may contact Tamil Nadu Small Farmers Agriculture Business Consortium for further details.

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