The government will now provide a loan of up to Rs 7 lakh for opening a dairy of up to 10 buffaloes

The government is running a Dairy Entrepreneur Development Scheme to promote animal husbandry and dairy industry. Under this scheme, a loan of up to Rs 7 lakh is provided by the Animal Husbandry Department for opening a dairy with 10 buffaloes. Not only this, 25% subsidy is also given for general class or dairy drivers and 33% for women as well as SC class.

The animal husbandry business is considered to be a business in which the probability of loss is very low. But as it is an expensive business, it is not possible to invest in it. The scheme is run by NABARD to provide relief to farmers and dairy operators. The scheme will help in providing employment to the villagers as well as increase milk production. The scheme was launched by the Government of India on September 1, 2010.

There is a provision to provide subsidy of up to 33.33% of the total project cost under this scheme to the person wishing to raise animal husbandry. The investor has to invest 10% of his own money while the remaining 90% will be borne by the government. The subsidy given under the scheme will be Bank Ended Subsidy, according to which the subsidy given by NABARD will go to the same bank account from where the loan has been taken and the bank will then deposit the money in the name of the lender.

To avail the Dairy Entrepreneur Development Scheme, one has to approach Commercial Bank, Regional Bank, State Cooperative Bank, State Cooperative Agriculture as well as Rural Development Bank as well as other institutions which are eligible for refinancing from NABARD. If the loan is more than Rs.

Sponsored Ads