Giving major boost to mechanized farming, Maharashtra govt finances farmers with Rs 50 Cr for farm equipment
Mumbai, August 30: Extending a helping hand with financing farmers for purchasing farm equipment with an initial corpus of Rs 50 crore, the Maharashtra government cleared the proposal giving the farmers a sigh of relief and moment of contentment.
Chief Minister Devendra Fadnavis also announced a state-of-the-art agriculture technology hub in Maharashtra to boost mechanized and scientific farming. The scheme, which is funded by the state government, is aimed at accelerating the government's ambitious plan to double the income of farmers by 2022. The financial assistance to farmers to adopt technology is to help them cope with multiple challenges in the agriculture sector. The thrust is to reduce investment cost and increase post-production income.
"To assist the Union government's plans to double the farmers' income by 2022, the state cabinet today cleared the funding proposal for small and marginal farmers who can now purchase farm equipment and cultivate the land," it said.
"The farmers from SC/ST community and women farmers would get 35% funding of the total cost for (purchasing) tractor while for other equipment, a subsidy of 50% will be given," it said.
The proposal has also championed setting up of Farm Equipment Bank, which a group of farmers can collectively use. The government will subsidize 40% of the cost for such a bank. There are 80% farmers who are small and marginal and they would benefit out of it.
Instead of using traditional farming, they should adopt advanced technology to help overcome problems of lack of manpower and also reduce the overall investment expenditure. Through scientific and mechanized farming practices, farmers can carry out sowing, monitoring, and harvesting. Technology would also help farmers get higher yield and better quality at the lesser price.
The Cabinet also cleared a proposal to change the name of Mumbai-based Bombay Veterinary College to Mumbai Veterinary College.