Government Subsidies for Tractors In India-2022

The updates on tractor subsidies in India by Central and State Governments are now available along with the development of technology, the farming sector was also developed. And in this modern farming, several technological types of equipment are available. But all the farmers can not buy them due to their prices. So, the Government helps the farmers to buy them by giving them a new tractor subsidy. It allows farmers to buy suitable tractors. With the help of a tractor scheme for farmers, they can easily get a high yield with minimum input. Tractor subsidy yojana is introduced by either the Central Government or State Government. 

Subsidy for Farmers in India

India is an agricultural country. About 60 percent of the country's population is involved in farming operations. Subsidy to Indian farmers is given from time to time by the Central and State governments. Farmers are provided with a subsidy for tractors, seed subsidies, fertilizer subsidies, agricultural equipment subsidies, solar energy subsidies, irrigation equipment subsidies, cash subsidies, electricity subsidies, sugar purchase subsidies, sugarcane payment subsidies, etc. The objective of the government behind subsidizing the farmers is to strengthen the economic condition of the farmers. Farmers were most in need of agriculture tractor subsidies. A tractor is the most needed machine on farms. The government provides subsidies ranging from 20 percent to 90 percent to farmers through various schemes. 

Farmer Tractor Subsidy Advantages

• Subsidy tractor helps to increase social efficiency.
• The government tractor scheme reduces negative externalities.
• You can buy a tractor of your choice for decreased price with a tractor purchase subsidy.
• The Central and State governments jointly provide tractor subsidies for farmers.

Major Tractor Subsidy Scheme 2022 in India

1. Rashtriya Krishi Vikas Yojana (RKVY)

This agriculture tractor subsidy is part of the National Agriculture Development Programme. This scheme provides around 100 percent subsidy. 

2. Sub-Mission on Agricultural Mechanization (SMAM)

This tractor subsidy for farmers was provided to help the country's marginal farmers.

3. National Food Security Mission (NFSM)

The major goal of this tractor subsidy yojana is to boost productivity. Therefore, it concentrates on existing machines rather than buying new ones.

4. NABARD loans in India

This agriculture tractor subsidy provides a 30% subsidy for the purchase. Therefore, farmers can apply for tractor subsidies to increase productivity on their farms. 

5. Agricultural Equipment Grant Scheme

This subsidy for tractors helps farmers to get their favorite tractor models at decreased prices.

6. Subsidy Scheme on Agricultural Equipment

This farming subsidy is used to decrease the prices of expensive farming equipment. The central and state government runs all the above Tractor subsidy schemes, and farmers are taking advantage of them.

Farmer's eligibility for tractor subsidy online form

Central and state governments subsidize farmers through their schemes, in which specific eligibility is determined. Eligibility for tractor subsidy 2022 varies in different schemes. Documents for tractor loan subsidy include Aadhaar card, Voter ID, bank passbook, bank account details, PAN card, etc. 

Types of the Tractor subsidy scheme

Governments provide direct cash subsidies and indirect subsidies to farmers. The government provides financial assistance to farmers in direct cash subsidies, and PM Kisan Samman Nidhi Yojana is the most prominent example of this. The central government transfers six thousand rupees every year to the farmers' accounts through this scheme. In indirect subsidies, the government provides subsidies on tractors, agricultural implements, Harvester subsidies, solar pumps, etc. to the farmers at low cost. A subsidy for tractors is aimed at the welfare of the farming community.