The government on Friday announced an 'Animal Husbandry Infrastructure Development Fund' worth Rs 15,000 crore to support private investment in dairy processing, value addition and cattle feed infrastructure.

Share Market Live

NSE

"There are many areas in the country with high milk production and a great potential for private investment in dairy. Animal Husbandry Infrastructure Development Fund of Rs 15,000 crore will be set up to incentivise this," Finance Minister NIrmala Sitharaman said while announcing the third tranche of the Rs 20 lakh crore economic package to revive the economy.

"The incentives will be given for establishing plants for exports of niche products," she further said.

(Also read: FM Nirmala Sitharaman announces Rs 1 lakh crore finance facility to fund agri projects for farmers)

"To ensure 100 percent vaccination of all livestock against foot and mouth disease (FMD) Rs 13,343 crore will be provided," she added.

As much as Rs 10,000 crore will be provided for fishermen through Pradhan Mantri Matsya Sampada Yojana (PMMSY). For promoting herbal cultivation, Rs 4,000 crore National Medicinal Plants Fund will be started to help 10 lakh hectares to be covered under herbal cultivation.

(Also read: Govt to deregulate onions, potatoes, pulses, oil seeds, cereals)

Also, Operation Greens will be extended from tomato, onion and potato to all fruit and vegetables by providing 50 per cent subsidy on transportation and storage of these commodities, she said.

First Published:May 15, 2020 4:43 PM IST