How to Get Subsidy for Agriculture Machineries in India

In India, the majority of the population depends on agriculture and allied activities for their livelihood. The traditional concepts and farming methods have changed significantly, as farmers have started using modern tools and machines instead of seeking the help of the animals. Today, the Government of India is offering various subsidies to farmers to procure agricultural machinery to increase their crop production. These facilities will help the farmers earn profits and lead to the economic development of the nation. From time to time, the state and the central government offer various schemes for the purchase of agriculture machineries in India.

Farming machines ease the work of the cultivator and improve the yield. Earlier, every farmer could not afford such machinery due to the high cost. However, with the help of the various grants and subsidies, any farmer can now purchase the various tools and machines for agricultural use. The Government of India offers subsidies on different machines, some of which include:

  • Tractor
  • Hey Taker
  • Laser Land Leveller
  • Neumatic Planter
  • Paddy Trans-planter

As every farmer uses tractors, it is one of the most popular subsidies for them. For instance, under the Pradhan Mantri Kisan Tractor Yojana, a farmer can receive up to 20-50% of the subsidy on a tractor’s purchase. Besides this, the government is offering a tractor loan in addition to the grant.

Eligibility  for the Pradhan Mantri Kisan Tractor Yojana

To qualify for this scheme:

  1. The farmer should have an Aadhar card
  2. The land should be on the farmer’s name
  3. The farmer should not have availed benefits of any government schemes within seven years from the date of application this scheme

Documents needed for Pradhan Mantri Kisan Tractor Yojana

The documents required include:

  • Aadhar card
  • Land papers
  • Bank passbook

Benefits of mechanization in agriculture 

  • Improves agricultural techniques
  • Reduces efforts and saves the time of the farmers
  • Leads to an increase in productivity
  • Meets the shortage of labors
  • Facilitates better land usage
  • Results in higher profitability

The mechanization in agriculture is helping farmers to maximize their output, leading to higher earnings. With a better income, the farmers can improve their standard of living and contribute to the economy’s growth.

Apart from government aid, reputed non-banking financial companies, like Mahindra Finance also provide financial assistance to farmers at economical tractor loan interest rates. Farmers can visit the company’s website to find out the tractor loan documents required to apply for the loan. Moreover, the lender offers flexible repayment options and simple tractor loan eligibility criteria.