Union Minister Shivraj Singh Chouhan Launches Portal to Expedite Interest Subvention Claims

New Delhi: Union Minister for Agriculture and Farmers’ Welfare and Rural Development, Shivraj Singh Chouhan, inaugurated a new web portal designed to automate and accelerate the settlement of interest subvention claims submitted by banks under the Agriculture Infrastructure Fund (AIF). The portal, developed jointly by the Department of Agriculture and Farmers’ Welfare (DA&FW) and NABARD, aims to streamline processes, enhance transparency, and expedite claim settlements. Minister of State for Agriculture and Farmers’ Welfare Bhagirath Choudhary, NABARD Chairman, and senior officers of DA&FW and banks were also present at the launch.

In his address, Minister Chouhan reiterated the Modi government’s commitment to increasing farmers’ income through various initiatives. He highlighted that the Agriculture Infrastructure Fund, launched by Prime Minister Modi with a funding of ₹1 lakh crore, aims to boost storage capacity for crops and minimize losses for farmers. The newly launched portal promises to ensure timely settlement of claims within a day, a process that previously took months when done manually. This move is expected to increase transparency and reduce corrupt practices.

Chouhan emphasized the portal’s role in sharing farmers’ experiences, allowing the farming community to learn from each other’s successes. He noted that numerous farmers are innovating independently, and their stories should be showcased for others to follow. The Minister informed that investments worth ₹72,000 crore have been mobilized, with ₹43,000 crore already sanctioned for 67,871 projects under the Agriculture Infrastructure Fund to date. Banks can now anticipate quicker settlement of interest subvention claims, thanks to the automated system.

“The automated system will accurately calculate eligible interest subvention, reducing the possibility of human error in manual processing and ensuring faster claim settlements,” said Chouhan. The portal will be used by banks, the Central Project Management Unit (CPMU) of DA&FW, and NABARD. Automation of interest subvention claim and credit guarantee fee claim processing will help the government release accurate interest subvention, reduce turnaround time, and financially support farmers and agri-entrepreneurs, encouraging them to undertake more projects for the development of agriculture in the country.

Alongside the portal, Chouhan also launched “Krishi Katha,” a blog site designed as a digital platform to amplify the voices of Indian farmers, sharing their experiences, insights, and success stories. “The stories of resilience, struggles, challenges, and triumphs of our farmers often remain uncovered. ‘Krishi Katha’ aims to provide a comprehensive and immersive storytelling space where the narratives of India’s agricultural community can be shared and celebrated,” said Chouhan.

He emphasized that the launch of “Krishi Katha” is a significant step towards acknowledging and amplifying the voices of farmers. Their stories of resilience and innovation are the cornerstone of the agricultural sector, and this platform will serve as a wellspring of inspiration for others. The initiative aims to raise awareness, facilitate the exchange of knowledge, foster collaboration, and empower farmers.

Stories highlighted on “Krishi Katha” will showcase how farmers have used innovative methods and government schemes to improve their farming practices. It aims to inspire and foster pride in the farming profession, promoting resilience among farmers and celebrating the farming community of Bharat.