look news india
To strengthen the rural economy and to double the income of farmers and animal herders, the central and state governments are continuously running new schemes. If you also want to start a side business along with farming in which you can earn huge profits with low cost and hard work, then goat farming can prove to be the best option for you. Today, to promote animal husbandry, the government is providing bank loans as well as bumper subsidies on easy terms. If you have a question in your mind that how much loan can you get to start a small farm of 10 goats and what is the process to apply for it, then let us understand in detail every important aspect and financial mathematics related to this business.
If you apply under National Livestock Mission or NABARD supported schemes to start goat farming business, then loans are provided by banks at very easy installments and affordable interest rates. Generally, the total cost for a small farm of 10 goats and 1 male goat (i.e. total unit size of 10+1) ranges from around Rs 60,000 to Rs 1 lakh. Banks pay about 85 to 90 percent of this entire estimated cost in the form of loan, whereas the applicant has to invest only 10 percent of the amount as margin money. That means you do not need to invest too much capital from your pocket.
The biggest feature of this scheme is that the government provides huge financial assistance to encourage animal farmers. In many states, there is a provision of up to 90 percent subsidy on goat rearing for Scheduled Castes (SC), Scheduled Tribes (ST) and women, while for general category beneficiaries this subsidy can be 50 to 60 percent. This simply means that if you apply through the right channel as per the rules, this amount of subsidy given by the government waives off a large portion of the loan taken by you, thereby reducing your financial burden to a great extent.
This business, which starts with less capital, starts earning profits very fast. The reproductive capacity of goats is very good and they usually give birth to kids twice in a year. If you rear goats of advanced breed like Jamunapari, Barbari or Beetal, then their demand is very high in the market. There is always a demand for meat and milk in the market, especially due to the medicinal value of goat milk and the high prices of goats on festivals like Bakra Eid, cattle farmers easily earn a net profit of lakhs of rupees annually. This business has become a major source of self-employment for rural youth.
If you also want to avail loan and subsidy to open a farm of 10 goats, then you will have to contact your nearest commercial bank, rural bank or district animal husbandry department. To apply, it is mandatory for you to have Aadhar Card, PAN Card, Residence Certificate, Bank Passbook, Passport Size Photo and Goat Farming Project Report. In the project report, you have to give complete details of the expenses related to construction of the farm, arrangement of fodder and maintenance of goats. After the department examines your application and project, the loan is passed by the bank and the subsidy is transferred directly to your account.