Integration Towards Map’s
BFIs are encouraged for lending at subsidized interest rate of 5%, upto Rs. 5 crores to commercial agriculture and livestock business. Likewise, BFIs are compulsorily required to provide 10% of the total loan portfolio in Agriculture Sector. As on Ashadh end 2075,A class bank have total loan portfolio of Rs. 2112 Billion, the 10% of which makes Rs.211 Billion.62 MFIs currently provide financial access to 2.7 Million members mobilizing Rs.140 Billion loans. More than 250 INGOs and 47,000 NGOs enlisted with Social Welfare council are working in Sustainable Agriculture and Rural Livelihood; Community based Natural Resources management, Health and Nutrition, Bio diversity conservation and Capacity Building.20 Non-life Insurance companies are covering the farm and business risk and for the F.Y. 2075-76, government has allotted 40% (Rs. 40.14 Billion) of the total budget Rs.1315.16 Billion for the development and modernization of agriculture alone and another Rs. 16.58 Billion for forestry and soil conservation. Moreover, number of MAP's commodities is exempted from VAT and so is the case with Customs Duties and Excise Duties. Grasella is an aroma hub which aims to integrate farmers with BFIs, MFIs, NGO/INGO, Insurance Companies, Government Bodies and other stakeholders under contract and co-operative farming model for accomplishing the MAPs mission. Agriculture contributes one third of the GDP and economic development is not possible overlooking this sector. Along with the political stability, favorable government policies, banking and insurance provisions, technological advancement and tax benefits, we visualize economic prosperity of each household through MAPs. Grasella will form an eco system that will not only enable farmers to earn more but also a paradigm shift on how farmers are viewed and served.