If you’re an agriculturist yourself and wish to get more out of your fields, the government has a treasure trove of schemes for you. From subsidized loans to direct cash payment, crop insurance free of charge and subsidies on machinery there is plenty to pick and choose from. These government schemes help ease farming, bring down costs, and help you earn more every harvest season.
These are 10 essential government schemes that can change your farming life:
1. PM Kisan Samman Nidhi Yojana (PM-KISAN)
This is the most popular scheme among small and marginal farmers. The government pays ₹6,000 per year in three installments of ₹2,000 directly into your bank account. It helps with seed buying, fertilizers, or to pay other necessary farming expenses.
2. Kisan Credit Card (KCC) Scheme
In need of urgent farm finance, Kisan Credit Card provides loans of up to ₹3 lakh without collateral. The interest rate is only 7%, and you can reduce your payment to 4% if you pay it back on time.
3. PM Fasal Bima Yojana (PMFBY)
Bad weather like drought or floods can destroy crops. This scheme offers full insurance at very low premiums, just 1.5% for Rabi and 2% for Kharif crops. In case of crop failure, the amount gets credited directly to your account.
4. PM Krishi Sinchayee Yojana (PMKSY)
Water scarcity is an issue encountered in agriculture. This scheme provides 50% to 90% subsidy for the installation of drip or sprinkler irrigation. It provides better growth for crops and conserves water.
5. Paramparagat Krishi Vikas Yojana (PKVY)
If you want to switch to organic farming, this scheme gives ₹50,000 per hectare for compost, organic fertilizers, and bio-seeds. It helps improve soil health and get better rates for organic produce.
6. Rashtriya Krishi Vikas Yojana (RKVY)
Modern tools make farming faster and cheaper. This scheme gives 40% to 50% subsidy on machines like tractors, harvesters, and threshers. It reduces costs and saves time.
7. Soil Health Card Scheme
The key to healthier crops is to know the soil. Farmers are given a soil health card every two years that shows what nutrients your soil needs. It reduces wasteful fertilizer use and increases soil produce.
8. Agriculture Infrastructure Fund (AIF)
Need to construct a cold storage or godown? This scheme offers you loans of up to ₹2 crore at reduced interest. You can even repay the loan after a while.
9. PM Kusum Yojana
Skyrocketing electricity bills cutting into your profits? It’s better to install solar pumps with up to 60% subsidy. You can even install solar plants on your land and supply the electricity to generate additional income.
10. Interest Subsidy on Loans
If you repay your agriculture loan in time, you receive an additional 1.5% rebate on the rate of interest. This lowers the overall cost and reduces borrowing expenses.
If you make maximum use of these schemes, you can save and earn lakhs of money each year. From hand-to-money to insurance, loans, subsidy, and solar income, these schemes of the government can make your farm a money-printing machine.
Go to the nearest agriculture office or search online and apply today to begin reaping the benefits.