Want to Start Dairy Business? Government is Giving Cheap Loans, Check Method to Apply

The Corona crisis has made people think of employment again. Most of the employees, especially those working in the private sector, are making their mind to start their own work or business. Milk dairy is one such profitable business.

Moreover, it's one of the most demanding business which allows you to earn a good money with zero loss in return.

Even though all the work around the world came to a standstill in the Corona period, there was no shortage in demand, price and supply of milk and milk products etc.

Viewing the growing demand, the government has also started several schemes to promote animal husbandry. People can start dairy work by taking advantage of these schemes. Dairy is such a work that can be started from small deposit and money. You can also start milk from two cows or buffalo.Here we are giving information about schemes related to dairy industry.

Dairy Entrepreneurship Development Scheme (DEDS)

The Central Government has implemented the Dairy Entrepreneurship Development Scheme- DEDS. Under this scheme, a person who is doing animal husbandry will be provided a subsidy of 33.33 percent on the total project cost. The National Bank for Agriculture and Rural Development (NABARD) provides loan waiver for this scheme.

Rs 7 lakh are provided for 10 buffalo dairy

Under the DEDS scheme, loans up to Rs 7 lakh are provided for 10 buffalo dairy. The subsidy for general category people is up to 25 percent. The subsidy rate for any class of women will be 33.33 percent.

Important things of DEDS to Remember

If you want to open your own dairy farm, at least 10 percent of the total cost of the plant will have to be invested on your behalf. It should also be kept in mind that dairy loans under DEDS should start within 9 months of sanctioning. If it takes more time than this, you will not be benefitted of subsidy. The subsidy given under this scheme will be Back Ended Subsidy. This means that the bank from which the loan has been taken, will release the NABARD subsidy amount to the same bank.

How to get a loan for Dairy Farm?

First get the dairy registered.

Prepare a clean and detailed project for the dairy plant.

It should contain all information about the location of dairy, number of animals, cost etc.

Now go to the bank authorized by NABARD for this project and apply for a loan.

Loan will be Provided for These Works

Under this scheme, banks will give you loan to build dairy plant sheds, for milking of cow-buffalo, on fodder and poultry cutting machines, on purchase of milch animals or for any other dairy items.

Source – Zeenews