FARM MACHINERY BANK SCHEME MODERN AGRICULTURAL EQUIPMENT

• About Scheme

Name of the scheme – Farm Machinery Bank Scheme Launched by Government of India Launched in 2014 

Types of machinery available: Tractors, ploughs, seeders, harvesters, and other equipments. 

Benefits: Access to machinery at affordable rates to increase the productivity of the land and ease the farmers’ lives.

• Objectives: 

1. Agricultural productivity: The scheme aims to improve crop yields and overall farm productivity by providing farmers access to modern machinery and equipment. 
2. Support small and marginal farmers: The Farm Machinery Bank Yojana was launched to support small and marginal farmers who lack the financial resources to invest in expensive agricultural machinery and equipment. 
3. Promote modernisation in agriculture: The govt. scheme encourages farmers to adopt modern practices in farming practices to reduce the dependence on manual labour and increase efficiency.
4. Increase farmers’ income: The Farm Machinery Bank Yojana also aims to increase the income of the farmers by improving their land’s productivity and producing high yielding crops.
5. Training and support: The scheme also aims to provide training and technical assistance to farmers on the effective utilisation of machinery and equipment.

Benefits :-

• Reduction of labour dependence: The application of machinery and equipment reduces the dependence on manual labour and saves time and effort. 
• Adoption of best practices: The scheme allows the farmers to access modern machinery and equipment and hence adopt best farming practices. 
• Enhanced quality of produce: The use of modern machinery can improve the quality of agricultural produce and make it more appealing and competitive in the market. 
• Boost to rural economy: The increased productivity and income of farmers contribute to the overall economic development of rural areas. 
• Agricultural diversity: With the help of modern techniques, farmers can easily diversify their crops and farming practices leading to improved resilience and income stability

• Eligibility Criteria 

1. Small and marginal farmers with their agricultural land and active engagement in farming activities. 
2. Farmers should be between the ages of 18 to 60 years. 
3. Farmers should demonstrate the ability to operate machinery, taught and assessed through training

• Application Process 

Step 1: Please visit the nearest agricultural department or Farm Machinery Bank facility. 

Step 2: Request an application form and fill it out by providing your and your land’s details, and the type of machinery needed. 

Step 3: Attach the relevant documents with the application form and submit it. 

Step 4: Applications would be put under review and after careful observation, the selected applicants’ request for machinery is approved. 

Step 5: After approval, farmers simply need to read and agree with the rent-related agreement of the machinery

• Documents Required 

Certain documents are needed to apply successfully for the agriculture scheme. 

1. Identity proof 
2. Land ownership documents 
3. Income certificate 
4. Cooperative membership proof (if applicable)
5. Passport-sized photographs 
6. Bank account details 
7. Training certificates (if applicable)

Conclusion: Building a Thriving Agricultural Future The Farm Machinery Bank Scheme is a transformative initiative taken by the government of India to allow small and marginal farmers to access and apply modern farming practices in their daily agricultural activity to improve productivity and efficiency.