custom hiring centre subsidy smam, chc project cost subsidy, fpo youth machinery bank loan
What is the Custom Hiring Centre subsidy and how does an FPO or youth apply?
PPraveen Reddy7mo ago · 212 views
4 Answers
🌾Farmer.in Krishi TeamExpert ✓6mo ago
A Custom Hiring Centre (CHC) is a machinery bank that rents out tractors and implements to farmers, and it gets a project-based subsidy under SMAM, typically around 40 percent of the project cost up to a ceiling, with the rest met by the promoter and a bank loan. Eligible promoters include individual entrepreneurs, rural youth, SHGs, cooperatives and FPOs. Apply on the Agri Machinery or state machinery portal with your project proposal, land or shed details, Aadhaar, and bank tie-up; on approval you buy the listed machines from approved dealers, and after verification the subsidy comes by DBT. The CHC project can also be financed under the Agriculture Infrastructure Fund for the loan part with its 3 percent interest subvention. Confirm current cost norms at your agriculture office.
NNaveen Reddy6mo ago
Humne apne gaon ke yuvaon ke saath milke ek CHC banaya. Project ka kuch hissa subsidy se aaya, baaki bank loan aur apna paisa laga. Tractor aur implements approved dealer se hi liye, varna verification me dikkat aati. Project report dhang se banwana sabse zaroori hai.
LLakshmamma6mo ago
A pitfall to know: the subsidy is on the fixed project cost norm up to a ceiling, not on any higher amount you spend. We had to arrange the promoter share and a bank loan for the rest. We financed the loan part under the Agriculture Infrastructure Fund and got the 3 percent interest subvention, which made the EMI lighter.
YYusuf Shaikh5mo ago
Individual youth, SHGs, cooperatives and FPOs can all promote a CHC, so a group can share the cost and risk. Confirm the current cost norms and ceiling at your agriculture office before finalising the project, since they are revised. Keep your bank account Aadhaar-seeded because the subsidy comes by DBT after physical verification.