Government subsidy for organic farming: Modified in 2014, up to 40 lakhs fund, sponsored by Central Government of India.
Scheme Overview
Website to apply: https://www.nabard.org/Helpline No.: 1800229009
NABARD-NCOF subsidy promotes organic farming, offers up to 33% subsidy for bio-fertilizer and compost units.
Features
Loan repayment: Up to 10 years with additional 2 years of grace period.
Benefits
Organic farming subsidy aids all farmers, regardless of land size, by reducing production expenses through compost units established on their land.
Small-scale farmers can sell surplus compost for extra income.
Drawbacks
Organic farming subsidies entice, but delays in land acquisition, bank financing, and NABARD assistance pose hurdles, prolonging the process.
– Farmer education, marketing, and quality maintenance pivotal.
Application Process
Step 1: Plan the project well, prepare the details and submit the plan to the financial institute or bank.
Step 2: The bank will review, assess, and approve the plan.
Step 3: Application to NABARD and the bank’s approval for their financial assistance.
Step 4: Assessment from the NABARD will be done, and the loan will be approved.
Step 5: 50% of the approved loan will be released to the bank and, from there, to you.
Step 6: The remaining 50% of the subsidy will be released after the bank’s assessment.
The organic farming subsidy can be applied online through the NABARD online portal. This can be a game-changing scheme for the farmers to produce without hammering the environment and with less burden on their pockets.
Conclusion
To learn more about the Organic Farming Subsidy – Benefits, Guidelines & Eligibility, click the link below for additional details.