Govt's Lottery-Based Subsidy System for 108 Agri Machinery under the Agricultural Mechanization Scheme: Know the Result Date
The lottery process will be conducted online, overseen by the Assistant Director in the presence of the District Magistrate or an authorized senior officer. Block Development Officers, local representatives, and progressive farmers will also participate in the process.
In a bid to make tractors and other agricultural machinery more accessible to farmers, the government has introduced the Agricultural Machinery Subsidy Scheme. This initiative, executed under different names across various states, is currently underway as the Agricultural Mechanization Scheme in Bihar. The scheme aims to provide affordable agricultural machinery to farmers, particularly tractors and is set to disburse subsidies through a lottery system due to the overwhelming response from applicants.
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Under the Agricultural Mechanization Scheme, farmers were invited to apply until November 10. The selection process will now take the form of a lottery, scheduled to occur between November 27 and 30. The lottery aims to identify farmers who will be eligible for subsidies on the purchase of 108 types of agricultural equipment, including 2-wheel drive and 4-wheel drive tractors, paddy thrashers, reapers, seed drills, paddy transplanters, mini dal mills, rice mills, rotavator, pump set, cultivator, power sprayer, reaper cum binder, irrigation pipes, and various other agricultural machinery.
How much subsidy will farmers get on agricultural equipment?
The lottery process will be conducted online, overseen by the Assistant Director in the presence of the District Magistrate or an authorized senior officer. Block Development Officers, local representatives, and progressive farmers will also participate in the process. Successful applicants will receive approval letters, enabling them to purchase agricultural equipment at subsidized rates.
Farmers can expect subsidies ranging from 40% to 80%, with higher subsidies allocated to farmers from Scheduled Castes, Scheduled Tribes, and Extremely Backward Classes. The official website of the scheme provides a comprehensive list of subsidies corresponding to each type of machinery.
Also Read: Kotak Mahindra Bank Farm Equipment Loan: Know How To Apply?
To ensure a streamlined process, the government has established rules for the purchase of subsidized agricultural machinery:
* Farmers must make the purchase within 15 days of receiving the approval letter.
* Agricultural machinery should be procured only from registered vendors in the agriculture department.
* Farmers can make purchases of their choice outside agricultural fairs or markets.
* The subsidized amount will be transferred directly to the vendor's account.
* Non-loanee farmers can avail subsidies on machinery costing less than Rs. 20,000.
* Receipts from marketing years 2022-23 and 2021-22 will be accepted in lieu of LPSC or custom hiring charges for machinery with a subsidy
* of Rs. 20,000 or more in the financial year 2023-24.
Link for the Agricultural Mechanization Scheme:
Official website link for the Agricultural Mechanization Scheme - https://farmech.bih.nic.in/FMNEW/Homenew.aspx
For more information and to view the list of agricultural machinery along with subsidy details, you can visit the official website of the Agricultural Mechanization Scheme: https://farmech.bih.nic.in/FMNEW/MechanizationImplementList2023_2024.pdf
Also Read: PM Kisan Bhai Scheme: Now Farmers Can Get Better Prices, More Power, & Market Access
