||Guidelines under the scheme
- Purchase of new tractor
- Tractor drawn implements
- Power tiller and other agriculture machines etc.
||Progressive, literate and illiterate farmers engaged in cultivation of crops as owner of land, permanent tenants or leaseholders (for reasonably long period) and who utilize the tractor/ machinery economically to the minimum extent of 50% on their own land holding.
- Should have perennially irrigated land of minimum 4 acres (tractors to farmer with land holding below 6 acres of irrigated land is considered for tractors with horse power up to 35 hp).
- Should cultivate high value commercial crops such as sugarcane, grapes, bananas & vegetables.
|Quantum of Loan
||Cost of vehicle including implements minus margin
|Nature of facility
|Rate of Interest
||Minimum 25% of Cost of the vehicle & Implements
||Tractors- 9 years Power Tillers- 7 years (Depends upon the repaying capacity on half yearly and annual basis based on surplus generation from crop and landholding of farmers)
||(i) Hypothecation of tractor and implements (ii)Charge/mortgage of land or third party guarantee