Good News for Farmers! Center is Giving Loan upto 7 Lakh for opening Dairy Farm; Important Details

Animal husbandry is one of the rapidly growing profitable agri business in India where the chances of loss are comparatively very low. Hence, to promote animal husbandry and dairy industry, the government is running Dairy Entrepreneur Development Scheme from a very long time. Under this scheme, livestock farmers can avail a loan up to Rs 7 lakh from the Livestock Department for opening a dairy farm which includes 10 buffaloes.
33% Subsidy for Women & SC Category

Not only this, 25 percent subsidy is also given for general category dairy owner 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 entrepreneurs which 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 has started the scheme from 1st September 2010.

What is Dairy Entrepreneurship Development Scheme?

The department of Animal Husbandry, dairying and fisheries is implemeting Dairy Enterpreneurship Development Scheme (DEDS) for generating self-employment opportunities in the dairy sector, covering activities such as enhancement of milk production,procurement,preservation,transportation,processing and marketing of milk by providing back ended capital subsidy for bankable projects. The scheme is being implemented by National Bank for Agriculture and Rural Development (NABARD)

Benefits of Dairy Entrepreneurship Development 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. While the rest 90 percent of the expenditure will be borne by the government. 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 in the name of the person giving the loan.

Important Things related to Dairy Entrepreneurship Development Scheme

Farmers can directly contact to commercial Banks, Regional Banks, State Co-operative Banks, State Co-operative Agriculture and Rural Development Banks to take the advantage of Dairy Entrepreneur Development Scheme. Or otherwise they can also contact to other institutions that are eligible for refinance from NABARD.

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.