Staff Reporter :
The Government will provide 25 per cent of the unit cost as margin money assistance for around Rs 1.5 lakh for general category and 33 per cent for SC/ST, at Rs 2 lakh
Madhya Pradesh Acharya Vidyasagar Cow-Promotion Scheme is an important scheme of the animal husbandry department, under which the unemployed youths will get a loan upto Rs 10 lakh to rear cows. Under this scheme, the Government will provide 25 per cent of the unit cost as margin money assistance for around Rs 1.5 lakh for general category and 33 per cent for SC/ST, at Rs 2 lakh.
Those rearing the cattle will be able to approve minimum 5 or more animal plans and the maximum limit of the project will be up to Rs 10 lakh. Seventy-five per cent of the project cost will have to be obtained through bank loan and the remaining amount will have be arranged as margin money assistance and beneficiary’s own contribution. The annual interest will be reimbursed by the department for Rs 25,000 per year for 7 years and at the rate of 5 percent annual interest at 75 percent of the unit cost or on the loan received from the bank by the beneficiary. Small and marginal farmers can take advantage of this scheme. The beneficiary must have a minimum of one acre of land for 5 animals and proportionately as the increase in the number of animals will determine the minimum agricultural land.
The beneficiaries will be approved at the Gram Sabha and the approved beneficiaries will be approved at the Janpad Panchayat. Once they are approved at District Panchayat, the deputy director of the animal husbandry department will send the case to the bank for approval. It is a multipurpose scheme aimed to reduce unemployment, creating awareness among animals and to increasing milk production.