Government will give loan up to Rs 7 lakh for opening 10 buffalo dairy, animal husbandry will get a boost
new Delhi. With a view to promote animal husbandry and dairy industry, the government is running the Dairy Entrepreneur Development Scheme. Under this scheme a loan of up to Rs 7 lakh is provided from the Livestock Department for opening a 10 buffalo dairy. Not only this, 25 percent subsidy is also given for general category dairy drivers and 33 percent for women and SC class.
Animal husbandry business is considered to be an occupation in which the chances of loss are extremely low. But due to the expensive business, it is not possible to invest in it. In such a situation, the government has launched this scheme to provide relief to farmers and dairy drivers. It is operated by NABARD. This scheme will help to provide employment to the people in the villages and increase milk production. The Government of India started the scheme on 1 September 2010.
Benefits from the scheme
Under this scheme, there is a provision of subsidizing up to 33.33 per cent of the total project cost to a person who wants animal husbandry. The entrepreneur will have to invest at least 10 percent of the entire project cost by himself. The government will bear the remaining 90 percent of the expenditure. The subsidy given under the scheme will be Back Ended Subsidy. Under this, the subsidy given by ‘NABARD’ will come in the same bank account from where the loan is taken, after which the bank will keep the money deposited with it in the name of the person giving the loan.
Important things related to the plan
Commercial Banks, Regional Banks, State Co-operative Banks, State Co-operative Agriculture and Rural Development Banks to take advantage of Dairy Entrepreneur Development Scheme
And other institutions that are eligible for refinance from NABARD will have to be contacted. If the loan is more than 1 lakh, then the borrower will have to mortgage some papers related to his land. Also, he will have to submit a photocopy of caste certificate, identity card and certificate and project business plan in the documents.