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National Bank for Agriculture and Rural Development comes to the rescue of dairy farmers
NABARD has been extending financial assistance to the dairy farmers under Dairy Entrepreneurship Development Scheme (DEDS) in the district. Under DEDS scheme, dairy farmers are eligible to avail themselves of financial assistance in tune with the priority accorded by the Union government to increase milk production to meet the needs of the people.
​Kakinada: The National Bank for Agriculture and Rural Development (NABARD) has been extending financial assistance to the dairy farmers under Dairy Entrepreneurship Development Scheme (DEDS) in the district. Under DEDS scheme, dairy farmers are eligible to avail themselves of financial assistance in tune with the priority accorded by the Union government to increase milk production to meet the needs of the people.
NABARD Assistant General Manager Dr K V S Prasad says Dairy Entrepreneurship Development Scheme will support small dairy units of 2-10 animals, female calf rearing units (up to 20 calves), purchase of milking machines and bulk milk cooling units
The main objective of the scheme is to create a venture capital fund to provide financial assistance to individuals, non-governmental organisations, private sector undertakings, cooperatives and the like to promote dairy farms. NABARD Assistant General Manager Dr K V S Prasad said, “The main objectives of the scheme are to encourage the establishment of the dairy farm for production of clean milk and to promote calf-rearing for conservation and development of good breeding stock.”
He said, “The scheme would support small dairy units of 2-10 animals, female calf rearing units (up to 20 calves), purchase of milking machines and bulk milk cooling units. Farmers, self-help groups, non-government organisations, cooperative societies, companies and dairy cooperative societies are eligible to seek bank finance and subsidy under the scheme.”
The fund also aims to bring about structural changes in the unorganised sector processing and marketing of pasteurised milk at the village level, upgrading of traditional technology to handle milk on a commercial scale, he added. The beneficiaries have to invest only 10 percent of the total cost while NABARD will grant 50 percent of the cost as an interest-free loan.
The remaining 40 percent will come in the form of a bank loan. NABARD will also shoulder 50 per cent of the bank interest component. In addition, NABARD has volunteered to subsidise 50 percent of the interest for beneficiaries who promptly repay the loan. The scheme is being implemented in all States by commercial banks, regional rural banks and cooperatives.
The implementation of the scheme will be monitored by State-level review and disbursement committees and by a joint monitoring committee at the national level. Banks have been instructed to bring to the notice of their controlling offices/branches the details of the scheme and initiate steps for its implementation.
East Godavari Joint Director of Animal Husbandry Dr Gabriel appealed to all farmers to avail themselves of the scheme. AP Vyavasa Karmika Sangam president Dadala Subba Rao said NABARD through its many programmes has been training the farmers in latest farming technologies and cattle rearing/dairy activities, and rearing of sheep/goat.
