Adoption of modern machinery and equipment is very important for farmers to double their income and increase crop yield.
Union Agriculture and Farmers Welfare Minister Narendra Singh Tomar said adoption of modern machinery and equipment by farmers depends on various factors such as socio-economic conditions, geographical conditions, irrigation facilities, crops grown, etc.
However, the central government supports and facilitates the state governments through different centrally sponsored programs as well as the central sector to support agriculture nationwide by introducing modern technologies in the agricultural sector.
Agricultural Mechanization Sub-Mission (SMAM)
For the promotion of agricultural mechanization in the country, a centrally sponsored program known as the “Sub-Mission on Agricultural Mechanization” (SMAM) has been implemented by the state governments since 2014-2015, with the aim of main objective to expand the scope of agricultural mechanization. small, marginal farmers and regions where the availability of agricultural energy is low.
And by promoting “personalized recruiting centers” to balance the negative economies of scale resulting from small land ownership and the high cost of individual ownership.
A 50% subsidy is provided for the purchase of machinery
In order to make machinery and equipment affordable for farmers, financial aid of 40% to 50% of the cost depending on the categories of farmers, is provided under the SMAM scheme for the purchase of agricultural machinery.
In addition, financial assistance at 40% of the project cost is also given to rural youth and farmers as entrepreneurs, farmers’ cooperative societies, registered farmers’ societies, agricultural producer organizations (OPF) and to panchayats for the establishment of Customized Hiring Centers (CHCs). ) and high-tech centers of high value-added agricultural machinery.
An 80% subsidy is granted for the establishment of agricultural machinery banks (FMB) at the village level
Additionally, financial assistance of 80% of the project cost for projects costing up to Rs. 10 Lakhs is given to Cooperative Societies, Registered Farmers Societies, FPOs and Panchayats for setting up Agricultural Machinery Banks (FMB) at the village level. The financial assistance rate for North Eastern states for the establishment of BKW is 95% of the project cost for projects costing up to Rs. 10,000,000.
Source – BIP
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