Farm Machinery Bank (FMB)/Farm Machinery Hub (FMH)
About This Scheme
“Farm Machinery Bank (FMB)/Farm Machinery Hub (FMH)” under the Farm Mechanization Umbrella Scheme, was introduced in the year 2023 for setting up Farm Machinery Bank(FMB) and will also be continued in 2024-25. The objective is to create employment opportunities among the rural youth/entrepreneurs for setting up of the Hub with special emphasis on the areas having low farm power availability. > Objective of the scheme: - Self employment for rural youth and other entrepreneurs. - To facilitate end-to-end (from land development to residue management) use of farm machinery which can be within the reach of the small and marginal farmers at reasonable charges. - To offset the high cost of owning farm machinery for small holdings. - To promote primary processing units like dal mill, oil mill, grinding machinery etc. & to set up seed processing units. - To increase farm power availability from the present level of 2.30 KW/ha to 2.50 KW/ha as envisioned by the Government of India. > Area of Operation: The scheme is applicable uniformly throughout the State, except Kolkata district. > Choice of Machinery: - List of Machinery/implements that can be selected for FMB/FMH is furnished in [Annexure-IV-A](https://matirkatha.net/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBa1lDIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--6e05a52aaf58b7fbfa749a5d71be15309a5101ea/FMS_Operational%20Guidelines_2024_25.pdf?disposition=attachment) (Page No. 41). List of available models of different farm machinery registered in Matirkatha portal with their indicative price will be published by the SPMT before starting of online application of the beneficiary so that the applicant can choose more than one machinery/implements from the list for setting up FMB/FMH. In case of primary processing units like dal mill, oil mill, grinding machinery etc. and seed processing unit , the intending applicants can opt for one machinery with minimum project cost of ₹10,00,000/- for setting up FMB/FMH from Annexure-IV-A. - The list is indicative but not exhaustive, any suitable farm machinery not included in the list may also be included in the project as per latest [SMAM guideline](https://agrimachinery.nic.in/Files/Guidelines/smam.pdf) supportive to local situation with the approval of SPMT. - For any non-listed machinery, latest SMAM guidelines will be followed for arriving at subsidy portion of that particular machinery with the approval of SPMT. - For AMC, Insurance, cost of shed for FMB/FMH proper documents (vetted estimate by competent authority, quotation, invoice) need to be submitted along with the project for availing the benefit under AIF.
Eligibility
- Individual Rural Youth Entrepreneur registered under Krishak Bandhu (New) Scheme. Or, Groups like SKUS/PACS/FPO/FPC/FIG/SHG duly graded /LAMPS etc approved/recognized by any Govt Institution/Departments . - The Group should be successfully running at least for last 1(one)year are only eligible to setup FMB/FMH in a selected village - The project cost/Total Financial Outlay (TFO) should be minimum ₹10,00,000/-. - The applicant should have sufficient land under his possession (own land/leased/hired) for setting up the FMB/FMH. - The land in question must belong to “commercial or bastu or viti” category. - The age of the beneficiary should be minimum 18 years at the time of application.
Benefits
> Pattern Of Assistance: - The subsidy will be 80% of the Total Financial Outlay (TFO) subject to maximum Rs 8.00 lakh and minimum TFO will be ₹10,00,000/-. The TFO includes indicative cost of machinery + Cost of shed +AMC + insurance. The remaining amount of the TFO will be borne by the beneficiary. - The maximum amount allowed for cost of open shed for machinery will be limited to 5% of the TFO and total ancillary cost (other than machinery) should not exceed 10% of TFO. > Note: - The applicant will have to deposit margin money of a minimum amount of 25% of TFO to the financing bank before release of subsidy by the DDA (Admn.) to the Bank and remaining amount will be bank loan . - No machine/equipment will be procured by the Government. The Government will only release subsidy as back ended subsidy against procurement by the beneficiaries as per their choice under CHC with Bank Loan. The subsidy will be released through DBT mode to the concerned bank branch to subsidy reserve fund/loan account for CHC. - The subsidy will only be applicable for purchase of farm machinery/equipment from the approved Farm machinery Manufacturers and Dealers as enlisted in the Departmental portal. - A beneficiary or his/her spouse will not be eligible to apply afresh before completion of 4(four) years from release of the last subsidy for CHC scheme from the State under this Guidelines.
How to Apply
Where This Comes From
This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.