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Pashudhan loan Guarantee Yojana launched, underprivileged citizens will get loan facility
Pashudhan loan Guarantee Yojana: As we all know, animal husbandry in the country is an important source of income along with employment. In such a situation, many schemes are being run by the central government to reduce the cost of animal husbandry and provide more facilities to the farmers, strengthen the economy in the rural area. In this direction, the Central Government has launched the Pashudhan loan Guarantee Yojana to promote enterprises in the animal husbandry sector.
Through this scheme, micro, small and medium enterprises will be empowered to encourage their active participation by looking at guarantees in the livestock sector. For information related to how to get the benefit of this scheme and how to apply, you have to read this article in detail till the end. Because today we will provide you complete information related to Pashudhan Credit Guarantee Scheme 2023 through this article.
Pashudhan loan Guarantee Yojana 2023
The Government of India has launched the Pashudhan loan Guarantee Yojana for the animal husbandry sector to revive the rural economy and empower micro, small and medium enterprises. The scheme has been implemented in the livestock sector under the Animal Husbandry Infrastructure Development Fund (AHIDF) by the Department of Animal Husbandry Dairying to strengthen the credit delivery system and facilitate risk-free unsecured credit to micro, small and medium enterprises.
Under the loan Guarantee Scheme, beneficiaries will not only be given interest subvention. Rather, loans up to 90% of the total project cost will be made available from any scheduled bank and National Cooperative Development Corporation. This will greatly increase the participation of MSMEs associated with the livestock sector and increase the impact of credit in this sector. Also, MSMEs can be strengthened to boost the rural economy.
Information about the Pashudhan loan Guarantee Yojana
|Name of scheme||Pashudhan Loan Guarantee Yojana|
|Started||By the Central Government|
|apportionment||Department of Livestock and Dairying, Government of India|
|Beneficiary||Micro, Small and Medium Enterprises of the Country|
|aim||To provide financial assistance and access to credit facilities to enterprises for the deprived livestock sector|
|cla||Central Government Schemes|
|Budget Amount||Rs. 750 crores|
|Sal tree a timber tree||2023|
Objectives of Pashudhan loan Guarantee Yojana 2023
The main objective of launching the Pashudhan loan Guarantee Yojana by the Central Government is to provide financial assistance and access to credit facilities to micro, small and medium enterprises for the deprived livestock sector. So as to enable them to get financial assistance from lending institutions. This will increase the productivity and growth of the livestock sector. The scheme will provide credit guarantees to MSMEs and encourage their active participation in the livestock sector.
Credit guarantee up to 25% will be given
The livestock loan guarantee scheme will be implemented in all states and union territories. The Department of Animal Husbandry and Dairying (DAHD) has set up a credit guarantee fund of Rs 750 crore to run the scheme smoothly. It will provide credit guarantee coverage of up to 25% of the credit facilities offered to MSMEs by eligible lending institutions . This will enable better access to finance for the deprived livestock sector.
Rs 750 crore fund set up for credit guarantee
One of the salient features of the Animal Husbandry Infrastructure Development Fund (AHIDF) Scheme is that a Credit Guarantee Fund of Rs 750 crore has been set up. DAHD has set up a trust to set up a Guarantee Fund Trust with NAB Conservation Trustee Company Private Limited, a wholly owned subsidiary of NABARD, to provide credit guarantee to micro, small and medium industries under the AHIDF scheme.
Established in March 2021, the fund trust is the country’s first fund trust under AHIDF’s credit guarantee scheme in the agriculture and animal husbandry sector.
And is a path breaking initiative taken by DAHD. This will rapidly increase the number of MSMEs availing the benefits of this scheme and strengthen the ecosystem for deductible funds from banks. The Livestock Loan Guarantee Portal has been developed as a rule based portal. And enrolment of institutions to eligible providers under credit guarantee scheme, issue of guarantee cover, renewal and settlement of claims has been done on the portal.
These entrepreneurs of animal husbandry sector will get the benefit of the scheme
The Central Government has approved the setting up of a Credit Guarantee Fund Trust under the Prime Minister’s Aatma Nirbhar Bharat Abhiyan incentive package of Rs 15000 crore for the Animal Husbandry Infrastructure Development Fund (AHIDF) to make the country self-reliant. Under this, the following enterprises have been approved for setting up of private companies, producer organizations and Section 8 companies:
- Dairy processing and value addition infrastructure,
- Meat processing and value addition infrastructure,
- Establishment of animal feed plant,
- Breed improvement technology and breed multiplication form,
- Wealth Management from Animal Waste (Agricultural Waste Management)
- Establishment of veterinary vaccine and drug manufacturing facility
Benefits and Features of Pashudhan loan Guarantee Scheme 2023
- In a bid to revive the rural economy and empower underprivileged entrepreneurs, the central government has launched the first-ever credit guarantee scheme for the animal husbandry sector.
- The credit offered to MSMEs through this scheme will provide credit guarantee coverage of up to 25% of the credit facility by the institutions.
- DAHD has set up a new Rs 750 crore credit guarantee fund to operationalise the Pashudhan Credit Guarantee Scheme.
- The Credit Guarantee Fund Trust has been collaborated with NAB Conservation Trustee Company Private Limited, a wholly owned subsidiary of NABARD.
- Project viability will be given importance to the lender through this scheme.
- On the basis of primary security, credit security will be ensured to entrepreneurs and underprivileged sections of the society who do not have access to finance.
- Under this scheme, beneficiaries will be given interest subvention under the Prime Minister’s Self-Reliant India Campaign incentive package.
- And huge loans will also be made available on the project cost.
- The beneficiary will be given a discount at an interest rate of 3% on the loan taken.
- MSME coaching guarantees will encourage their active participation in the livestock sector.
- The Credit Guarantee Scheme initiative launched by DAHD is expected to substantially increase the participation of MSMEs in the livestock sector.
- Through the Livestock Loan Guarantee Scheme, the impact of credit in the livestock sector will increase and the rural economy will get a boost. This will strengthen MSMEs.
- This will create employment opportunities in the country and provide more facilities to the farmers. This plan will contribute significantly to economic development.
Eligibility for Pashudhan loan Guarantee Yojana
- To get the benefit of the Loan Guarantee Scheme, the applicant must be a citizen of India.
- Micro, small and medium enterprises engaged in animal husbandry sector will be eligible under this scheme.
- The bank account of the entrepreneur should be linked to the Aadhaar card.
Documents required for Pashudhan loan Guarantee Yojana
- Aadhar Card
- Income certificate
- Residence certificate
- Ground documents
- Documents related to animal husbandry industry
- Mobile Number
- Passport size photograph
- Bank Account Details
Procedure to apply under Pashudhan loan Guarantee Yojana 2023
- First of all you have to go to the official website of the Department of Animal Husbandry and Dairying, Government of India .
- On the home page, you have to click on the option to apply for a loan.
- enter your mobile number.
- After this, you have to click on the option of I’m not a robot and click on the Request OTP option.
- After clicking, you will receive an OTP on your mobile. You will have to enter it on the next page.
- Now the application form will open in front of you.
- You have to carefully enter all the required information sought in the application form.
- After this, you have to upload the necessary documents sought.
- Finally, you have to click on the submit option.
- Thus the process of applying under your Livestock Loan Guarantee Scheme will be completed.
Pashudhan loan Guarantee Yojana FAQs
What is the Pashudhan loan Guarantee Yojana?
In order to revive the rural economy and empower micro, small, and medium enterprises and strengthen the credit delivery system for the animal husbandry sector, the Department of Animal Husbandry Dairying has implemented the Livestock Loan Guarantee Scheme.
How much Credit Guarantee Fund has been set up by the Department of Animal Husbandry Dairying to operate the Pashudhan loan Guarantee Yojana?
The Department of Animal Husbandry Dairying has set up a Credit Guarantee Fund of Rs 750 crore to operate this scheme.
With whom has the collaboration been made to set up a fund trust under the Pashudhan loan Guarantee Yojana 2023?
A trust has been formed with NAB Protection Trustee Company Private Limited, a wholly owned subsidiary of NABARD, to set up a Credit Guarantee Fund Trust.