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NABARD scheme to boost organic farming
NABARD (National Bank for Agriculture and Rural Development) has introduced a subsidised scheme for young entrepreneurs to set up various units for encouraging organic farming in a big way .
Kakinada: NABARD (National Bank for Agriculture and Rural Development) has introduced a subsidised scheme for young entrepreneurs to set up various units for encouraging organic farming in a big way .
These include fruit and vegetable compost huts, organic fertiliser and organic pesticide units and soil testing labs with subsidy on unit cost in the current financial year 2017-18.
As far as setting up of fruit and vegetable compost units, organic fertiliser and organic pesticide units are concerned, the subsidy part will be to the tune of 33 percent or Rs 25 lakh on unit cost. In case of soil testing labs, subsidy to the tune of 40 percent will be extended on unit cost of Rs 10 lakh.
For mobile soil testing lab with an estimated cost of Rs 86,000, the same 40 percent subsidy is applicable, but the entrepreneur has to fulfill the norms of ICAR [Indian Council of Agriculture Research] in the conduct of soil tests.
Assistant General Manager, East Godavari of NABARD, Dr K V S Prasad observed that this scheme is expected to meet the requirements of organic farming in a big way.
