Maharashtra Agribusiness Network (MagNet) project

Agriculture and Rural Development (Phase-I/II) Agri-Business

Maharashtra has approved an ADB-funded Rs 1,000 crore project for boosting fruit and vegetable production in the state. The Maharashtra Agribusiness Network (MagNet) project, which has been approved, aims to help farmers across all districts in the state for the next six years.
This will give a boost to fruits and vegetable production and benet to farmers in Maharashtra.
In view of the growing demand for fruits and vegetables in the coming years in the state and considering losses of fruits and vegetables at dierent stages, the MagNet project incentives will be given to small and marginal farmers
The project is worth $142.9 million, or about Rs 1,000 crore, of which 70% would be lent by Asian Development Bank and the balance will come from state government.
The state government has authorised bureaucrats to nalise the repayment period of the loan during negotiations for the loan.