Cabinet approves extension of Animal Husbandry Infrastructure Development Fund

The Union Cabinet has approved the extension of the Animal Husbandry Infrastructure Development Fund (AHIDF), which falls under the Infrastructure Development Fund (IDF), with an allocated budget of Rs 29,610.25 crore for an additional three years until 2025-26. This initiative aims to incentivise investments in various sectors including dairy processing and product diversification, meat processing and product diversification, animal feed plants, breed multiplication farms, animal waste to wealth management (agri-waste management), and veterinary vaccine and drug production facilities. Under this scheme, the government of India will provide a 3 per cent interest subsidy for eight years, which includes a two year moratorium period, for loans of up to 90 per cent obtained from scheduled banks, the National Cooperative Development Corporation (NCDC), the National Bank for Agriculture and Rural Development (NABARD) and the National Dairy Development Board (NDDB). Eligible entities encompass individuals, private companies, Farmer Producer Organisations (FPOS), Micro, Small and Medium Enterprises (MSMES), and Section 8 companies. Additionally, dairy cooperatives will now also benefit from provisions aimed at modernising and strengthening dairy plants.