Farm Machinery Bank Yojana 2020-21 (Online application): Objectives, Eligibility, and Online registration

Farm Machinery Bank Yojana Government’s new scheme for farmers of the country, will get an 80% subsidy: 

  • Central government has come up with a variety of schemes for the farmers of the country whose benefits are being provided to them. 

  • Apart from this, the government keeps launching new schemes to increase farmers’ earnings, so that they do not have to bear the financial burden. 

  • The most benefited farmers in the country are getting PM Kisan Samman Nidhi Yojana implemented by the central government. 

  • Apart from this, the government has implemented many beneficial schemes for the farmers.

What is Farm Machinery Bank Yojana

  • A Farm Machinery Bank has been created for all farmers of the country under the government-launched Farm Machinery Bank Yojana.

  •  If seen, it is impossible to do farming without machines in today’s time, but not every farmer can buy the machines used in farming. 

  • That is why the government has set up Farm Machinery Bank in the villages to provide machines on rent for agriculture and to increase it.

  •  For this, the government has formed farmers’ groups through the website and mobile app.
Farm Machinery Bank Yojana 2020 (Online application): Objectives, Eligibility, and Online registration

The government is giving an 80 percent subsidy

  • Under this scheme launched by the government for the young farmers, by opening the Farm Machinery Bank, they can create regular and good income. 

  • The special thing of this scheme is that for the Farm Machinery Bank, the government is providing many other types of help with 80 percent subsidy.

20 percent will have to be invested

  • Apart from this, the Central Government is giving a lot of encouragement to the setting up of Custom Hiring Centers across the country. 
  • At the same time, it is being told that at least more than 50 thousand Custom Hiring Centers have also been built across the country. 
  • At the same time, for the Farm Machinery Bank, the farmer will have to invest only 20 percent of the total cost. 
  • Because 80 percent of the cost will be returned to the farmer as a subsidy. Also, the subsidy will be given from 10 lakh to one crore rupees.

Subsidy only once in three years

  • At the same time, farmers can buy machines like seed fertilizer drill, plow, thresher, tiller, rotavator in their farm machinery bank on grant. 
  • Also, for any scheme from the Department of Agriculture, a machinery will be subsidized only once in three years. 
  • In a year, the farmer can take grants on three different types of instruments or machines.

Also read: Pradhan Mantri Awas Yojana

How to apply for Farm Machinery Bank

  • For the Farm Machinery Bank, farmers will have to apply for a grant on E-Mitra Kiosk of their area by paying a fixed fee. 
  • At the same time, along with the application for grant, some more documents have to be submitted including photo copy of copy of machinery bill, Bhamashah card, Aadhaar card and bank account pass book.

Currently the scheme started in Rajasthan

  • Please tell that under the Farm Machinery Bank Yojana in Philahal Rajasthan, farmers of every category will be given this benefit. 
  • However, Scheduled Castes, Tribes, Women, BPL card holders and small farmers are preferred. 
  • Under this scheme, according to Pahale Aao Pahale Pao, farmers will be given grant money.

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