Government Schemes for Goat Farming In India:
Today, let us discuss Government Schemes For Goat Farming Loan, Subsidy in India from NABARD and other institutions.
Goat Farming Subsidies NABARD Loans:
It is a known fact that farming is one of the most profitable Livestock Farming Business. And India is one of the largest producers of Goat Milk and Goat Meat in the world. There is a great demand for Goat Meat and Goat Milk among the people, and the demand is increasing rapidly. By seeing the demand for goat meat and milk, many marginal farmers and entrepreneurs are entering the Commercial Goat Farming Business. The Profits in Goat Farmingmainly depend upon the amount of money invested in it. The main obstacle for Individuals and farmers is financial assistance to their commercial goat Farm. To encourage farmers, the state and Central governments are providing Loans and Subsidies to Start Goat Farming.
The rearing of goats in India is primarily being mainly done in the states of Karnataka, Telangana, Andhra Pradesh, Maharashtra, Madhya Pradesh, Orissa, Rajasthan, Bihar, Jharkhand, Uttar Pradesh, West Bengal, and Tamil Nadu. As these states have the terrain and climate suitable for goat rearing.
The governments of these states are encouraging the farmers with various subsidy schemes in association with local banks and NABARD to encourage farmers to rear goats.
What are the major benefits of Goat Farming for farmers?
- The main feed for goat is agricultural waste and products left over from harvesting and they don’t need any additional feeding.
- The goats are the best producers of meat, hide, milk and manure to the farmer, throughout the year.
- And goats don’t need special housing requirements and can be accommodated in open spaces.
- Goats are bit disease resistant and suffer from fewer diseases when compared to Cattle and Sheep.
- There is a huge demand for Goat milk is for its nutritional value, it is also used in the preparation of Ayurvedic medicines.
- There is a good price for goat meat in the meat market because of its low-fat content. And with the ban on beef consumption in India, the demand for goat meat has raised up in the last few months.
- The Goat manure is richer in nutrients when compared to cow manure and it has good demand.
- There is a good price for goats, and are eventually sold as livestock or meat, and they bring in an additional source of income for small farmers.
Considering these benefits, you can get a subsidy from the government and authorized banks when you want to start goat farming. You can avail subsidy amount varies from 25% to 35% of the total cost of purchase of goats.
In addition, NABARD is also providing financial assistance to Start A Commercial Goat Farming Business. And many people are unaware of all these Loans and Subsidies that are offered by the Government to Start Goat Farming. And this article will help, to know about the loans and subsidies that are available in our country. Furthermore, this article gives you the information about the NABARD subsidy for Goat Farming and Goat Farming Loan from SBI.
Goat Farming Subsidies and NABARD Loans:
The main objective of NABARD Loans for Goat Farming is to Improve the social, economic living of Small and Marginal Farmers and to increase the production of Livestock Farming and encouragement for employment opportunities.
Eligible Criteria For Institutions
- State Co-operative Agriculture & Rural Development Banks.
- Regional Rural Banks.
- State Co-operative Banks.
- District Central Cooperative Banks.
- Commercial Banks.
- State Agricultural Development Finance Companies.
- Scheduled Primary Urban Co-operative Banks.
- North Eastern Development Finance Corporation.
- Non-Banking, Financial Companies.
Eligibility Criteria for Individuals
- Small Farmers and Marginal Farmers.
- Unemployed individuals.
- Startup Entrepreneurs.
- Mandatory Amenities for NABARD loan.
- Skillful Individual, Framer or individual.
- Proper Management in Goat Farm.
- They should have a proper sanitation system and water management in Goat Farm.
- There should be Good and Efficient transportation facilities in the area of Goat Farm.
You can avail the bank loans Up to 50 lakhs for institutions and up to 5 lakh for individuals and Farmers depend on the size of the Goat Farm.
Repayment of NABARD Goat Farming Loan:
The loan repayment of NABARD loan is up to 15 Years.
List of Banks providing Loans for Goat Farming
In collaboration with State and Central Government, there are many banks are providing loans to Start A Commercial Goat Farming Business. And they give loans with assistance from apex agriculture loans institution NABARD.
- State Bank of India (SBI).
- IDBI Bank. Maharashtra Bank.
- Cooperative Banks.
- RRBs i.e., Regional Rural Banks.
Subsidy for Commercial Goat Farming
All the local governing bodies provide a subsidy to Start Goat Farm. The interested people can also visit the local Agriculture Office or Animal Husbandry department for more details on Subsidies to Commercial Goat Farming.
Procedure for obtaining bank loans for Commercial Goat farming:
Different state governments have categorized different amounts based on their state budgets to promote goat farming startups. The states of Karnataka and Maharashtra governments are providing the highest subsidies for commercial goat farming unit compared to other states. The process for obtaining to obtain a bank loan is the same in most of the states. And make a note that, NABARD never directly lends to a farmer, but instead routes the subsidy through a recognized bank. So, farmers must follow the steps listed below to get a loan for goat rearing.
- Visit your nearest commercial, rural or co-operative bank and inquire, if they offer loans for purchasing goats, in case they are offering loans, ask them for the application form.
- First Complete the application form, you can take assistance from the bank officer and prepare a brief project report which will be submitted to NABARD for availing subsidy.
- Once the application and report have been submitted to NABARD, it takes a few weeks for it to get approved. The subsidy will be provided once your application is approved.
- The loan borrower or the farmer needs to pay between 10-15% of the loan amount from his pocket and the remaining amount will be provided as a loan.
- It is ideal for the small and marginal farmers to start with a small number of goats, once you gain experience you can opt to purchase a larger number of goats.
- If the goat farm you are planning is a very large farm, then you are eligible to get subsidized loans for purchase of land, construction of goat pens, machinery for feeding and milking. You should submit a detailed project report needs to be provided if you want the loan to cover the above inputs.
The above is the Goat Farming Subsidies NABARD Loans to Start Goat Farm in India. We hope that the article has given you the best information that you are looking for in this NABARD Loans for Goat Farming.