The government announced a new ₹15,000-crore infrastructure fund to provide interest subvention of up to 3% to private players for setting up dairy, poultry and meat-processing units. A decision was taken in the Cabinet meeting headed by Prime Minister Narendra Modi.
Open to All — Boosts Milk, Exports & Jobs
A ₹15,000 crore fund has been approved that will be open to all, helping increase milk production, boost exports and create 35 lakh jobs.
"A ₹15,000 crore fund has been approved by the Cabinet that will be open to all and will help in increasing milk production, boost exports and create 35 lakh jobs in the country."
— Prakash Javadekar, Union Minister of Information & Broadcasting
Cabinet approves ₹15,000 cr infrastructure fund for dairy, poultry and meat processing
3% Interest Subvention — A First
For the first time, interest subvention up to 3% will be given to private players for setting up processing infrastructure for dairy, poultry and meat.
"For the first time, we will give interest subvention up to 3% to private players for setting up of processing infrastructure for dairy, poultry and meat."
— Giriraj Singh, Union Minister of Animal Husbandry, Fisheries & Dairying
Part of the ₹20 Lakh Crore COVID Package
The new infrastructure fund is part of the ₹20 lakh crore economic package announced to help those affected by the coronavirus lockdown.