- December 7, 2022
- Posted by: admin
- Category: Latest update
Government of India has announced a very lucrative scheme to incentivize the investment of enterprises involve in dairy processing, meat processing, manufacturing of animal feed etc.
The scheme will be implemented by the Department of Animal Husbandry and Dairying under Ministry of Fisheries, Animal Husbandry and Dairying.
Implementation of Scheme
* The Scheme is operational from F.Y. 2020-21 to 2022-23.
* Loan disbursement within a period of 3 years starting from F.Y 2021-21 to FY 2022-23 will be considered.
* Farmer Producers Organizations(FPOs),
* Private companies
* Individual entrepreneurs
* Section 8 companies
* Micro Small and Medium Enterprises
Eligible Activities under the scheme
* Dairy Processing
* Value added dairy product manufacturing
* Meat processing and Value addition of facilities
* Animal feed manufacturing and strengthening of existing unit
* Breed Improvement Technology and Breed Multiplication Farm including Hatcheries, Layer Farm and Broiler Breeder Farm (with environmentally controlled system)
* Setting up of Veterinary Vaccine and Drugs Production facilities
* Animal Waste to Wealth Management (Agri-waste management)
Quantum of Loan and Margin Money contribution
* Loan up to 90% of the estimated/ actual project cost from the Scheduled Bank, National Cooperative Development Corporation (NCDC)
* The Margin Money contribution –
1) Micro and Small units – 10%
2) Medium Enterprises – up to 15%
3) Other categories – up to 25%.
* Interest subvention: 3% for all Eligible Entities.
Note – Interest subvention will not be allowed for the loan sanctioned for procurement of land, working capital, old machineries and vehicle for personal use.
In case of defaulter in re-payment of loan amount in any given year, no interest subvention will be provided for the duration an account is NPA.
The interest subvention will be provided only for 8 years inclusive of 2 years monitoring.
Points to Remember
* Term loan sanctioned before or after the notification of scheme i.e. 24.06.2020 can avail the benefit under the scheme, provided projects started on or after the date of notification of scheme.
* The project should be operational for at least for 7 years from the date of commencement of commercial production.
* In case of lease land the minimum tenure of the lease must be for 30 years.
* The project proposal with complete DPR will be submitted through “ahidf.udyamimitra.in” portal.