Tractor Subsidy In Delhi

Tractors Subsidy in Delhi

Agriculture :-

Under the Plant Protection Scheme technical know-how is provided to the farmers to protect crops from insects, pests, rodents, weeds, diseases etc. There is provision for distribution of quality pesticides as well as plants protection equipments. Training/awareness is imparted to the farmers for adoption of latest production technologies under the Integrated Development Scheme. Moreover, Wormi compost is produced and provided to the farmers/kitchen gardeners/general public at subsided rate. Assistance to SC/ST farmers / agricultural labour is also provided in the form of various agricultural inputs under the scheme. Under Soil Health Management Programme soil testing and public awareness programmes are conducted. Soil and water samples are tested and advice is given to the farmers as per requirement. Under Seeds Certification Programme seed certification facility is provided to determine the quality of the seeds.

Financial Assistance to the extent of Rs. 2500/- to SC/ST farmers and landless labour in the form of inputs viz. metallic storage bin, hand operated sprayers /dusters, chaff cutter under Special Component Plan

New Tractor Loan Scheme from SBI

Purpose

Agricultural term loans are sanctioned for purchase of new tractors, accessories and implements

Eligibility

Any individual or group of individuals i.e., JLGs/SHGs, institution or organization are eligible for finance which will have sufficient and regular income either from own farm activity or custom hiring incomes from the tractor proposed to be purchased and its accessories. Borrower should possess a minimum land holding of 2 Ac.

Margin

Minimum of 15%.

Primary security

Hypothecation of Tractor & Accessories.

Insurance:

The tractor and accessories purchased with banks finance have to be comprehensively insured for the full value.

Collateral Security

Mortgage of landed property valued equivalent of 100% of loan value.

Interest

12% p.a.

For prompt repayment, further concession of interest @1.00% by way incentive will be extended to the borrower and 0.50% to the tractor dealer. Concession will be extended in the month of july and will be on the basis of interest recovered between 1st July to 30th june of every year.

Upfront fee

0.5% of loan amount has to be charged as upfront fee.

Repayment

Loan is repayable in equated monthly installments in 5 years, including grace period of 1 month. (Relaxed in tune with the regular flow of funds in the hands of the borrower).

Postdated cheques will be obtained from the borrower for the EMI

EMI per Rs 1 lakh Rs 2225