The Yantra Lakshmi Scheme in Telangana is designed to provide support to farmers through a tractor subsidy and a specialized lending program. This initiative aims to facilitate the purchase of tractors by offering a combination of financial aid in the form of both a loan and a subsidy. The two main components of this program are the Yantra Lakshmi Scheme 2023 and the Agriculture Mechanization Scheme. This comprehensive article aims to provide you with detailed insights about these schemes, including their objectives, eligibility criteria, necessary documents, advantages, and the step-by-step application procedure.
Yantra Lakshmi Scheme Telangana
The Yantra Lakshmi Scheme in Telangana aims to support farmers by offering both a tractor subsidy and a dedicated loan scheme. This initiative is designed to assist farmers within the state in acquiring tractors for their agricultural needs. Through the Yantra Lakshmi Scheme 2023 and the Agriculture Mechanization Scheme, the government seeks to enhance farming practices.
Under this program, the government provides a substantial 50% subsidy to farmers for purchasing tractors and related agricultural equipment. This subsidy is coupled with a loan facility to aid in financing the acquisition. To illustrate, if the total cost of a tractor and its components amounts to Rs. 10 lakh, the farmer would only need to contribute Rs. 5 lakh. The state government covers half of the total cost, while the remaining 50% can be obtained through a loan from a nationalized bank or other relevant financial institutions. This combined approach of subsidy and loan aims to alleviate financial burdens on farmers and promote modernized farming techniques.
Overview of Yantra Lakshmi Scheme 2023
| Scheme Name | Yantra Lakshmi Yojana |
| State | Telangana |
| Started by | K Chandrashekhar Rao |
| Category | Telangana Government Schemes |
| Beneficiaries | Farmers of State |
| Benefits | 50% Subsidy |
| Application Mode | Online/Offline |
| Official Website | vyavasayam.telangana.gov.in |
Objective of Yantra Lakshmi Scheme 2023
Firstly, it aims to elevate the earnings of farmers while also reducing their labor-related expenditures. A core feature of the scheme involves granting subsidies to enable the purchase of tractors within the state. Notably, a substantial 50% subsidy is provided, significantly easing the financial burden on farmers and making tractor ownership more feasible. Recognizing that the complete cost may still be substantial, the program takes another step by facilitating access to loans from nationalized banks. This dual approach ensures that farmers can manage the remaining 50% of the tractor’s cost through manageable loan options. Ultimately, the scheme strives to enhance the economic status of farmers by augmenting their income potential, curbing labor costs, extending subsidies for tractor procurement, and offering accessible loans through nationalized banks to usher in modernized farming practices.
Benefits of Yantra Lakshmi Scheme 2023
- The Yantra Lakshmi Scheme 2023 presents a range of advantages, as outlined below:
- The scheme actively promotes the adoption of advanced agricultural mechanization practices throughout the state.
- By facilitating access to modern equipment, the scheme encourages practices that enhance agricultural profitability.
- Farmers stand to benefit from reduced labor expenses while simultaneously experiencing an increase in their overall income.
- The scheme provides a notable subsidy to residents of the state to facilitate the purchase of tractors, thereby easing financial burdens.
- A significant 50% subsidy on tractor purchases across the state is a central feature of the scheme, making tractor ownership more affordable.
- The scheme ensures that the remaining 50% of the tractor cost can be managed through loans from nationalized banks, contributing to feasible and manageable financing.
- Farmers gain access to both a subsidy and a loan, enabling them to acquire tractors and other essential farm equipment.
- In addition to tractors, the government extends subsidies to cover various agricultural machinery, including rotators, small tractors, power bedders, and transplanters.
Eligibility criteria
- The eligibility criteria for the Yantra Lakshmi Scheme 2023 encompass the following:
- Applicants must be permanent residents of the Telangana State.
- To avail the subsidy benefits, applicants are required to possess a bank passbook, allowing for the seamless transfer of subsidies into their accounts.
- The Yantra Lakshmi Scheme is open for applications from both individual farmers and cooperative organizations.
- Farmers owning a minimum of 6 acres of land are eligible to apply for this scheme.
- During the beneficiary selection process, priority will be accorded to small and marginal farmers.
Required Documents
- Passport Size Photograph
- Aadhaar Card
- Domicile Certificate
- Land Document
- PAN Card
- Bank Passport
Telangana Chenetha Mitra Scheme
- Address Proof
- Mobile Number
Applicant Procedure of Yantra Lakshmi Scheme 2023
- The application procedure for the Yantra Lakshmi Scheme 2023 involves the following steps:
- Initiate the process by visiting the designated zonal offices to obtain the application form for the Yantra Lakshmi Scheme.
- Thoroughly complete the application form by filling in all the required details accurately.
- Attach all the necessary land record documents that are required along with the application form.
- Submit the duly filled application form along with the attached documents to the respective zonal office from where you obtained the form.
- Following the submission, the selection of beneficiaries will take place. Additionally, a verification process will be conducted at the district level to validate the provided information.
- For updates regarding the status of your Yantra Lakshmi Scheme Telangana application form, applicants can either visit the zonal offices in person or get in touch with them through appropriate communication channels.