Press Information Bureau

Government of India

Ministry of Finance

04-May-2012 16:55 IST

Soft Loans to Poultry Farmers

Financial assistance to Animal Husbandry is classified under Priority Sector lending by banks. NABARD refinances banks against their lending under this activity.

The Department of Animal Husbandry, Dairying & Fisheries has reported that they have no proposal for providing soft loans to farmers engaged in poultry farming. A Central Sector Scheme ‘Poultry Venture Capital Fund’ (subsidy) scheme is being implemented by National Bank for Agriculture and Rural Development (NABARD) under which back-ended capital subsidy is provided @ 33.33% for SC/ST & North Eastern Region and @ 25%, for others. The scheme has been extended for the financial year 2012-13 by the Government of India.

This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today.

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SS/GN

Priority Sector lending: NABARD refinance supports poultry credit and Poultry Venture Capital Fund subsidies extended for farmers. Classification of financial assistance to animal husbandry as Priority Sector lending places poultry finance within priority-sector norms with NABARD providing refinance; the Department has no proposal for direct soft loans. The Central Sector Poultry Venture Capital Fund provides back-ended capital subsidy, targeting SC/ST and North Eastern beneficiaries, and was continued into the 2012-13 financial year under NABARD administration.