Subsidy under Yuva Sahakar- Cooperative Enterprise support and Innovation
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AGRICULTURE INFRASTRUCTURE FUND (AIF)
AND GET BENEFIT OF EASY LOAN APPROVAL IN 60 DAYS
Welcome in KIP’s Blog, today we are going to share with you Subsidy schemes by the National Cooperative Development Corporation (NCDC) under Yuva Sahakar.
The Assistance provided by the NCDC to farmer cooperatives in order to promote, strengthen and develop the farmer cooperatives and for increasing production and productivity and instituting post-harvest facilities. Focus of Corporation is on programmes of agricultural marketing and inputs, processing, storage, cold chain and marketing of agriculture produce and supply seeds, fertilizer and other agricultural inputs etc. For the support the NCDC has introduced the new scheme Yuva Sahakar- Cooperative Enterprise support and Innovation to provide financial assistance in form of Term Loan, Investment Loan, Working capital Loan and credit linked subsidy etc.
The Projects covered under NCDC which is eligible for the subsidy benefit are as follows:
- Storage- Construction and repair of godown
- Cold Chain- Construction/expansion/modernization of cold storage
- Promotional and Development Programmes
- Processing- Sugar factories, setting up spinning mills, Cotton Development Programme
- Services Cooperatives- Irrigation, animal care, tourism, hospitality
- Agricultural services etc.
Eligible beneficiary under Yuva Sahakar:
- This scheme is applicable to Cooperatives registered under Cooperative Societies Act, 1912 or any other law for the time being in force.
- Various states are categorised in least developed, under developed and developed to provide more assistance to backward areas.
- Cooperatives in least developed states– Arunachal Pradesh, Assam, Bihar, Jharkhand, Manipur, Meghalaya, Mizoram etc.
- Cooperatives in under developed states- Andhra Pradesh, Goa, Himachal Pradesh, Odisha, Rajasthan, West Bengal etc.
- Cooperatives in developed states– Haryana, Punjab, Maharashtra, Delhi etc.
Financial Assistance/Subsidy/Benefits Available under Yuva Sahakar :-
- Interest subvention: The NCDC will provide the interest rate with 2% less than applicable rate of interest on term loan for the project activity. The duration of loan is of 5 years including moratorium.
- Subsidy on Capital Investment: The NCDC will fund the project for the capital investment excluding the working capital in a ratio as mentioned here:
Category-A: 80% of debt funding for the cooperative society in North eastern region, 100% women members/100% scheduled caste/scheduled tribes etc.
Category-B: 70% debt funding for all other cooperative society not fall under category A.
The eligible loan can be provided in lieu of subsidy. Once, the fund available with the NCDC for disbursement of loan would be adjusted against the loan account.
Note: The Project cost should not exceed Rs 1 Crore in case cooperative society incorporated more than 3 months but less than 1 year and Project cost of Rs 3 Crore for society which is in operation for 1 year or more.
Other Schemes Available other than Yuva Sahakar:
There is also another Central Government schemes which provide the financial assistance to the business as Agricultural Marketing Infrastructure (AMI), Dairy Processing and Infrastructure Fund (DIDF) Scheme, National Horticulture Board (NHB), National Horticulture Mission (NHM) etc.
So, if you are planning to setup the business mentioned above in the particular state, then you can take benefits of the above said schemes.
If you want to set up any Cold storage
Then apply under AIF and Kindly fill this form
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