The agriculture sector plays a vital role in India. There are more than 75% of the population dependent upon the agriculture sector for livelihood. It is also very essential to keep farmers growing and developing for the upliftment of the country.
So, the government must provide benefits to the farmers. For small-scale farmers, they can’t purchase expensive machinery and other equipment. So, to overcome this problem the government has started various subsidy schemes and programs.
On the other hand, subsidies are also provided to the farmers in the way of schemes and other policies.
Here, we are discussing the various schemes and subsidies that are provided to the farmers from time to time in various agricultural machines and equipment.
Rashtriya Krishi Vikas Yojana
Rashtriya Krishi Vikas Yojana Scheme applies to the state government. Under this scheme, 100% subsidy is provided to the farmers. This scheme came into existence on 29th May 2017 by the government to develop the agrarian sector in various categories like natural resources, technology, and agro-climatic.
Various agricultural plans are prepared for the states and districts. Farm mechanization, women-friendly equipment, and tools are provided under this assistance. The RKVV scheme is provided for the benefit of the farmers. The scheme is also very limited to setting up custom hiring centers.
National Food Security Mission
This scheme works on the improvement of agricultural productivity. The objective of this scheme is to make old machinery better instead of buying new agricultural machinery. So, if agricultural machinery brings some drawbacks then the National Food Security Mission (NFSM) will be very helpful to the farmers.
Sub-Mission on Agricultural Mechanization
This scheme is beneficial to the small and marginal farmers keeping in mind empowering them.
Several activities are set up by the Government of India for agricultural mechanization. Some of the examples are (agriculture sector) agricultural machinery banks, hi-tech hubs, distribution and setting up of custom hiring centers, etc.
Subsidies for Specific Machines in India
Farmers’ work becomes easier once the farming machines are easily purchasable at affordable and easy prices. For small and marginal farmers the cost of machines is expensive. So, the government has inaugurated several plans and schemes for the easy availability of the machines.
There are various machines and equipment that are being provided with a 90% subsidy by the Land Conservation Departments. Many schemes have subsidies these are:
Nabard loan scheme provided a subsidy of up to 30% on the purchase of tractors. Also, the 100% subsidy is given for other agricultural machinery. Thus, farmers can easily purchase machinery which is good for farming and also increases productivity.
Subsidy On Agricultural machinery
There are two ways of getting subsidies on agricultural machinery.
First comes the direct cash subsidy and the second is an indirect subsidy.
Direct Cash Subsidy: Direct Cash Subsidy is in the form of cash that is suitable and helpful to the farmers.
Indirect Subsidy: While on the other hand, the indirect subsidy is by making the agricultural tax-free income.
The subsidies on agricultural machinery are required with some important documents. These documents include voter ID, Aadhar card, voter card, PAN card, statement copy of the bank, account details, personal information application form, and payment receipt, etc.
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