UP govt to invest Rs 38 bn in agri start-ups

12 Jul 2023 CW Team

As per the plan, the new ventures included in the blueprint will focus on areas such as seeds, fertilizers, warehousing, soil nutrients, harvest/post-harvest crop management, and food processing units. The scheme aims to cover agricultural and horticultural crops as well as allied farm activities, with a specific focus on pisciculture, sericulture, and food processing.

According to a senior official from the agriculture department, the state intends to approve a minimum of five agricultural ventures and start-ups each month in all 75 districts. The state believes that simplifying the loan process will enable more than 3,000 agricultural entrepreneurs and young farmers to benefit from the scheme.

The funding for these initiatives will be obtained from the Agriculture Infrastructure Fund (AIF) scheme initiated by the central government. The AIF scheme seeks to enhance basic farming infrastructure by investing in medium- and long-term community agricultural assets at the local level.

To be eligible for a credit line from designated commercial banks, the beneficiary project must have a value exceeding Rs 10 million. Under the scheme, the beneficiaries receive a 6% interest subsidy that is evenly split between the AIF and the state government.

Additionally, for projects up to Rs 20 million, there is no requirement for collateral or guarantee during the loan application process.

According to the official, the primary objective is to facilitate a profitable post-harvest value chain and ensure favourable prices for farmers and agricultural entrepreneurs.

The central government has entered into a memorandum of understanding with nearly a dozen public sector banks to provide loans under this scheme. Agriculture serves as the backbone of the state's economy. In the fiscal year 2022-23, the state's agricultural exports increased by 5.5% to approximately Rs 190 billion compared to roughly Rs 180 billion the previous year.

Also read:
SECL to develop closed coal mine in Korba District as Eco-Tourism Spot
NTPC's captive coal mines production surges to 8.48 MMT in Apr-Jun

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

The Uttar Pradesh government has expressed its intention to enhance the agricultural value of the state by investing approximately Rs 38 billion in agricultural start-ups during the financial year 2023-24 (FY24). As per the plan, the new ventures included in the blueprint will focus on areas such as seeds, fertilizers, warehousing, soil nutrients, harvest/post-harvest crop management, and food processing units. The scheme aims to cover agricultural and horticultural crops as well as allied farm activities, with a specific focus on pisciculture, sericulture, and food processing. According to a senior official from the agriculture department, the state intends to approve a minimum of five agricultural ventures and start-ups each month in all 75 districts. The state believes that simplifying the loan process will enable more than 3,000 agricultural entrepreneurs and young farmers to benefit from the scheme. The funding for these initiatives will be obtained from the Agriculture Infrastructure Fund (AIF) scheme initiated by the central government. The AIF scheme seeks to enhance basic farming infrastructure by investing in medium- and long-term community agricultural assets at the local level. To be eligible for a credit line from designated commercial banks, the beneficiary project must have a value exceeding Rs 10 million. Under the scheme, the beneficiaries receive a 6% interest subsidy that is evenly split between the AIF and the state government. Additionally, for projects up to Rs 20 million, there is no requirement for collateral or guarantee during the loan application process. According to the official, the primary objective is to facilitate a profitable post-harvest value chain and ensure favourable prices for farmers and agricultural entrepreneurs. The central government has entered into a memorandum of understanding with nearly a dozen public sector banks to provide loans under this scheme. Agriculture serves as the backbone of the state's economy. In the fiscal year 2022-23, the state's agricultural exports increased by 5.5% to approximately Rs 190 billion compared to roughly Rs 180 billion the previous year. Also read: SECL to develop closed coal mine in Korba District as Eco-Tourism SpotNTPC's captive coal mines production surges to 8.48 MMT in Apr-Jun

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Infrastructure Transport

05 Sep 2025

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Infrastructure Transport

05 Sep 2025

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..