Tractor Subsidy In Punjab

Tractors Subsidy in Punjab

Tractor Subsidy in Punjab:

In Punjab, the government offers a scheme to lease finance facility to purchase a tractor under a green tractor scheme. 

Eligibility:

• All the small and marginal farmers who have been declared successful through computerized balloting.
• The applicants should be a resident, owner/self-cultivator of minimum 05 Acres of farming land.
• Existing BOP borrowers having land under the bank’s charge are also eligible for this scheme.
• The farmers should not be a defaulter of any Financial Institution.

Price of Tractor: The price of Green Tractor should be less by RS: 200,000/- from the market price of the tractor. A Subsidy of RS: 200,000/- will be provided by the Govt. of Punjab to Tractor Manufacturers directly.

Punjab Government Alliance with Tractor Manufactures:

The government of Punjab has made an alliance with M/s Millat Tractors (Pvt.) Ltd. and Al-Ghazi Tractors Limited as Local Manufacturers of tractor for this scheme.

Repayment: the repayment period is10 equal half yearly installments. 

Kisan Dost Tractor Finance Schemes: The main motive of the scheme is to provide of a financial facility to the farmers and non-farmers (those who provide tractors to farmers on a rental basis for various tractor related operations), for the purchase of Tractors.

Eligibility:  

• The farmers should have an agriculture Land minimum 5 acres and maximum 50 acres.
• The non-farmer persons should be related to the business of providing services for tractor related farming practices to the farmers on a rental basis.

Amount: Maximum subsidy limit is Rs. 750,000/-.

Repayment: the repayment period is10 equal half yearly installments and the loan should be paid within five years. 

Second-hand Tractors Leasing Finance Scheme:

The main purpose of the scheme is leasing out used/second-hand tractors for the farmers. The Tractor would be free from debts and should not be more than three years old in a good working condition.

Amount: Maximum subsidy limit is Rs.400, 000/-

Repayment: the loan can be paid in min two to a maximum six half-yearly installments. (Minimum two and maximum six half yearly installments).

Tractor loans by Punjab National Bank:

PNB offer loans for the purchase of four wheelers, three wheelers (carriers) and Two Wheelers (LMVs) of all types, for agriculturists for managing and supervising their farming activities and other farm-related marketing activities etc.

This scheme offers:

• One-time Insurance cost
• One-time Registration cost

Eligibility: All new and existing farmers who are engaged in agriculture and/ or allied activities and should have repayment capacity assessed by the branch based on income from agriculture and/ or allied activities.

• For Two-Wheeler: the Individual farmers should have engaged in direct agriculture and/

or allied agriculture activity.

• For Three-Wheeler (carrier) and Four-Wheeler (LMV): All the farmers, owning and cultivating farm lands of more than 1 acre of agricultural land in their names are eligible to apply under the scheme.
• This scheme is applicable for farmers engaged in Dairy farming, Poultry farming,

Read:  Black Gram Cultivation (Urad Dal) Guide

 

This scheme offers

• Loans for Scooters, Motorcycles, etc.: based on the Maximum Rs 1, 00, 000/-.
• Loans for Three- Wheeler (carriers): based on the maximum to a limit of Rs. 3.00 Lakhs.
• Loans for Four- Wheeler (LMVs): based on the Maximum up to a limit of Rs. 15.00 Lakhs. 

1. LEASE FINANCE FACILITY FOR PURCHASE OF TRACTOR UNDER GREEN TRACTOR SCHEME 2008-2009 from Bank of Punjab

Eligibility:

All Farmers who have been declared successful through computerized balloting.
The applicant should be a resident, owner/self cultivator of minimum 05 Acres of agri land free from all encumbrances. Existing BOP borrowers having land under Bank's charge are also eligible under this scheme.
The applicant should not be a defaulter of any Financial Institution

Price of Tractor:

The price of Green Tractor would be less by RS: 200,000/- from market price of tractor. Subsidy of RS: 200,000/- will be provided by Govt. of Punjab directly to Tractor Manufacturers.

Make of Tractor:

Government of Punjab has approved M/s Millat Tractors (Pvt.) Ltd. and Al-Ghazi Tractors Limited as Local Manufacturers of tractors for the scheme.

Repayment:

10 Equal Half Yearly Installments (Principal + Mark up).

Scheme Implemented by Punjab Department of Soil and Water Conservation

Resource Conservation through Laser Leveler
To conserve on-farm irrigation water through fine leveling of the fields. Assistance of 50% of the cost, subject to a limit of Rs. 1.50 Lakh, is proposed on the purchase of 1 Laser Leveler for the farmers owning a Tractor of 55 HP or above. This scheme is available in all districts of the Punjab state.