Know, from where will you get money and how much subsidy will be given to open a dairy
The government is pushing for the development of the dairy industry and animal husbandry to boost milk production across the country.
In this regard, a particular program has been launched by the government to help farmers who are looking to start a dairy farm.
The title of the plan is Dairy Entrepreneur Development Scheme. In this scheme, the benefits of subsidies are provided by the state government to allow dairy and animal husbandry.
If you don’t have the funds to start dairy operations, then you can get an amount of 7 lakh rupees from the bank in this program.
If you’re looking to open the dairy industry, this is great news for you. In this article, we will inform you how to get the bank loan needed to start dairy facilities and make use of the subsidy provided by the government.
In addition, we will also provide details on the procedure of applying and the required documents in this article.
We will also provide information on what we can about the Dairy Entrepreneur Development Scheme of the government.
What is the Dairy Entrepreneur Development Scheme of the Government
Dairy Entrepreneur Development Scheme is managed by the government to encourage animal husbandry and dairy production.
Through this scheme, a loan amount of up to 7 lakh can be obtained from the department of livestock to open 10 buffaloes in a dairy.
Additionally, subsidies are also provided in this regard through the state government. It is the Government of India that started this program on the 1st of September, 2010.
How to get bank loan to open dairy in this scheme
To get a loan under Dairy Entrepreneur Development Scheme, you must approach the regional and commercial banks states cooperative banks, cooperative state agricultural as well as rural development banks, and other institutions qualified to receive refinance from NABARD.
If the amount of the loan exceeds one lakh, the borrower has to secure a mortgage for his land.
How much subsidy will be given on bank loan
General category dairy farmers are entitled to 25 percent of the loan they get from the bank to start a dairy.
The subsidy of 33 percent is provided to women and for the SC category. We will inform you that you’ll have to invest just 10 percent of your funds.
The remainder of the funds will be made available by bank loans or subsidies by the federal government.
How will the subsidy be paid?
Talk about what you will do to get the benefits of subsidy in opening a dairy. The subsidy offered through the scheme will be enacted.
In this case, the subsidy provided through NABARD will be transferred to the same account at which you’ve taken the loan.
The bank will then deposit the cash in the name of the person making the loan. Interest on bank loans will be wiped out of this amount.
How much bank loan can be available on 10 buffalo dairy
If you are planning to start an animal dairy with 10 buffaloes, you’ll need the equivalent of 10 million rupees.
From this, you will be able to get an amount of up to 7,500 from the institution. In this case, you’ll receive a subsidy of around 2.5 lakh rupees under the DEDS scheme of the Ministry of Agriculture. The subsidy is offered by NABARD.
How to apply for bank loan
To apply for a loan at a bank the first step is to must create dairy projects and indicate the number of animals you would like to start an animal farm.
In the event of that, you’ll be granted a loan by the banks. In addition, to obtain the loan, you be required to submit certain documents that are listed below the following:
- Aadhar ID card issued by the person applying
- Pan card of the applicant
- casting certificate of the candidate
- Checks that were canceled by the applicant’s bank account
- The objection certificate of the bank is required to be attached to the bank’s objection certificate, in which it is required to state that you don’t have an outstanding loan with any bank.
- In addition, another requirement is a photocopy of the business plan is also required to be provided.
Contact us for more information on the scheme
For more details on the scheme, get in touch with for more information about the scheme, you can contact Regional Development Officer.
In addition, you can find out more about dairy production, cattle, and grants by calling your local Dairy Animal Development Center and District Animal Husbandry Officer.