The Union cabinet has approved the extension of funds for development of animal husbandry infrastructure

The Union cabinet meeting chaired by prime minister Modi has approved the continuation of the Animal Husbandry Infrastructure Development Fund schemes for another three years (up to 2025-26) to be implemented with an allocation of Rs 29,610.25 crore.

The scheme will promote investments in dairy processing and diversification of dairy products, meat processing and diversification of produce, animal feed plant, breeding farm, resource management from livestock waste (agricultural waste management) and livestock vaccine, drug manufacturing facilities.

The central government will provide interest subsidy of 3 per cent for 8 years including interest deferment of up to 90 per cent on loans from listed banks and National Cooperative Development Corporation, NABARD etc. Individuals, private companies, small, micro and medium enterprises, companies covered under Clause 8 of the Farmers Producers Companies Act are eligible for this.

The central government will provide loan guarantee of up to 25 per cent of the Rs 750 crore loan received from the credit guarantee fund to micro, small and medium enterprises and dairy cooperatives.

The scheme will be a platform for direct and indirect employment generation of 35 lakh people through entrepreneurship development. It also aims to create wealth in the livestock sector