Govt Invested Rs 6,400 Crore in Farm Machinery and Drones for Farmers Since 2014: Details About Funding and Initiatives

The government's commitment to modernizing the agricultural sector has been underscored by its substantial investments since 2014. With an allocation exceeding Rs 6,400 crore, efforts have been directed towards reducing farmers' input costs and bolstering their income. Notably, more than 15 lakh machines and equipment have been provided to farmers with subsidies during this period.

In parallel, the establishment of 23,018 custom hiring centres, 475 high-tech hubs, and 20,461 farm machinery banks has further facilitated access to agricultural machinery and equipment on a rental basis for farmers.

Drone technology is emerging as a pivotal tool in agricultural practices, with the government actively promoting its adoption. Standard Operating Procedures (SOPs) have been issued to guide farmers on utilizing drones effectively. Financial assistance covering the entire cost of drones, along with contingent expenses, has been extended to encourage their demonstration in farmers' fields. An amount of Rs 141.41 crore has already been disbursed for this purpose.

Also Read: Sonalika Tractors Celebrates 15 Million Strong Farmers Community at Krishi Darshan Expo

Additionally, the government's approval of a central sector scheme dedicated to providing drones to Women Self Help Groups (SHGs) for the period spanning 2024-25 to 2025-26 demonstrates a forward-looking approach. With an outlay of Rs 1,261 crore, this scheme aims to equip 14,500 selected women SHGs to offer rental services to farmers for agricultural purposes.

Under this scheme, 80% of the drone's cost and ancillary charges, up to a maximum of Rs 8 lakh, will be covered by central financial assistance.

Also Read: Marut Drones Secures World's First Patent for Multi-Nozzle Aerial Seed Dispensing Technology

The Agriculture Infrastructure Fund (AIF), launched in 2020, serves as a significant avenue for medium to long-term debt financing for investments in agricultural infrastructure. All loans under this scheme come with a 3% per annum interest subvention, up to a limit of Rs 2 crore.

According to official figures, a substantial amount of Rs 37,099 crore has been sanctioned for 51,694 projects under the AIF. Among these sanctioned projects, Rs 27,782 crore are covered under scheme benefits, mobilizing a total investment of Rs 62,653 crore in the agricultural sector.

The government's persistent efforts in mechanizing the farm sector and promoting modern technologies like drones signify a concerted push towards enhancing agricultural productivity and farmer welfare. With continued support and initiatives, the agricultural landscape of the nation is poised for significant transformation, benefitting millions of farmers across the country.

Also Read: National Seminar Showcases Cutting-Edge Tools Including Drones, Satellites, & AI