The Indian Government has started the NABARD Dairy Farming Loan Scheme 2024 for those affected by the coronavirus pandemic. Under this scheme, the Government aims to provide financial assistance of 30,000 crore to affected farmers. The money will sent to eligible farmers through cooperative banks. It also aims to increase the dairy farms for milk production in India. Let us tell you more about NABARD Dairy Farming Loan Scheme 2024, eligibility, objective, application process, etc.
NABARD Dairy Farming Loan Scheme 2024
The Government has starts the NABARD Dairy Farming Loan Scheme with help of Animal Husbandry and Fisheries Department. the scheme aims to provide the financial assistance of 3 crore to country farmers. It also provide the employment and loan s to unemployed people in rural areas. With this scheme loans assistance, the Government wants to increase dairy farms in India, and boost milk production.
The farmers who want to get financial assistance under the NABARD Dairy Farming Loan Scheme must meet their eligibility. The loan amount will provided to farmers on the basis of their eligibility. More than 3 crore farmers will get beef its of this scheme
| Name Of The Scheme | Nabard Yojana |
| Launched By | National Bank for Agriculture and Rural Development |
| Delegated Ministry | Ministry of Electronics and Information Technology |
| Objective | To give affordable credit facilities to farmers |
| Benefit | Adoption of modern dairy farming practices |
| Applicable to | Citizens of India |
| Beneficiaries | Agricultural Worker involved in Diary Farming |
| Form of Benefit | Credit Facilities |
| Payment Mechanism | PFMS |
| Host Site | NIC (National Information Centre) |
| Mode of Application | Online |
| Official Website | https://www.nabard.org/ |
Objective of NABARD Dairy Farming Loan Scheme 2024
The main objective of the NABARD Dairy Farming Loan schemeis to develop the dairy business in rural areas in India and make it self-reliant. With this scheme, the farmers will get the financial assistance and starts their business in dairy or milk production industry.Here are several objectives of this dairy farming loan scheme
- Increase income in rural areas
- Development of dairy entrepreneurship
- Enhances employment in rural areas
- Financial support and subsidy
- Modernize the dairy sector in Rural areas
- Improve dairy sector and milk productivity
Features of the NABARD Dairy Farming Loan Scheme
Indian Government has launched the NABARD Dairy Farming Loan scheme and started providing financial assistance to farmers. The farmers will get financial support of 30,000 crore through this scheme. The farmers will get loans on the basis of their eligibility.
- Loans will provided to farmers directly through cooperative banks
- The dairy farming loan schemes will allow farmers to buy machinery and get support in the milk production process
- Farmers will get financial assistance up to 13.13 lakh and able to buy machinery and equipment for dairy production
- Loans up to 10 lakh are available for farmers under this scheme.
- Moreover, individuals need to contribute 25% of their investment from their own money. The remaining 75% amount are covered in the loan amount offered under this scheme.
- Eligible farmers will be able to get a 25% subsidy from the Government in the form of a loan.
- The ST and SC category beneficiaries will get subsidy up to 4.4 lakh
NABARD scheme Subsidy
NABARD dairy farming loan scheme provides financial aid to farmers up to 13.20 lakh to buy the machines and equipment for milk production. They will get capital subsidy up to 25% and loans up to 3.30 lakh. They will get NABARD animal husbandry subsidy up to 3.30
Citizens of the SC and ST category will get subsidy up to 4/40 lakh under this loan scheme. The NABARD Animal Husbandry Scheme amount will be released to beneficiaries in their bank. They have to pay 25% of the loan amount itself, and the remaining 75% loan amount will be provided under this scheme.
Components and Subsidy Details
Here, we tell you the NABARD dairy farming loan Scheme subsidy amount, approved for different dairy-related activities.
Small Dairy Units
- Investment: ₹5 lakh for 10 animals (minimum 2, maximum 10).
- Subsidy: 25% of the investment (33.33% for SC/ST), up to ₹1.25 lakh for 10 animals (₹1.67 lakh for SC/ST).
Heifer Calf Rearing Units
- Investment: ₹4.8 lakh for 20 calves (minimum 5, maximum 20).
- Subsidy: 25% of the investment (33.33% for SC/ST), up to ₹1.2 lakh for 20 calves (₹1.6 lakh for SC/ST).
Vermicompost Units
- Investment: ₹20,000.
- Subsidy: 25% of the investment (33.33% for SC/ST), up to ₹5,000 (₹6,700 for SC/ST).
Milking Machines and Bulk Milk Coolers
- Investment: ₹18 lakh.
- Subsidy: 25% of the investment (33.33% for SC/ST), up to ₹4.5 lakh (₹6 lakh for SC/ST).
Dairy Processing Equipment for Indigenous Milk Products
- Investment: ₹12 lakh.
- Subsidy: 25% of the investment (33.33% for SC/ST), up to ₹3 lakh (₹4 lakh for SC/ST).
Cold Storage for Milk Products
- Investment: ₹30 lakh.
- Subsidy: 25% of the investment (33.33% for SC/ST), up to ₹7.5 lakh (₹10 lakh for SC/ST).
Veterinary Clinics
- Investment: ₹2.4 lakh for mobile clinics and ₹1.8 lakh for stationary clinics.
- Subsidy: 25% of the investment (33.33% for SC/ST), up to ₹60,000 for mobile clinics and ₹45,000 for stationary clinics (₹80,000 and ₹60,000 for SC/ST).
Dairy Parlors
- Investment: ₹56,000.
- Subsidy: 25% of the investment (33.33% for SC/ST), up to ₹14,000 (₹18,600 for SC/ST).
NABARD Scheme Eligibility
Here are the categories of people that are eligible to get benefits of the NABARD dairy farming loan Scheme amount
- Individual entrepreneurs
- Farmers
- Companies
- NGOs
- Groups of organized and unorganized sectors, etc.
- Groups of the organized sector consist of SHG, Dairy Cooperative Societies, Milk Unions, Milk Federations, etc.
The individual will be able to get a subsidy under the NABARD scheme for all components, but only once for every component. If more than one member in family avail the subsidy, then they should set up separate units with different infrastructure at different locations. The distance between the boundaries of the two farms must be a minimum of 500 m
Essential documents
- Photocopy of application form
- Identification Certificate
- Basic address proof
- Income Certificate
- Photocopy of business plan
- Bank Account Passbook
- Active mobile number
NABARD Dairy Farming Loan scheme 2024 : How to apply online
Here are the steps you should follow to apply for NABARD Dairy Farming Loan Scheme 2024
- Visit the official website, https://www.nabard.org/
- On the homepage of the site, choose the option ” NABARD dairy loan.”
- Now, application forms are open in front of you
- Now, fill in your details in the form
- Submit the necessary documents in scanned form
- Now, tap on the submit button to submit the form
- In this way, your application for this dairy loan scheme has been submitted.