Who is eligible for the Farm Machinery Bank Scheme?

Small and marginal farmers engaged in active farming between the ages of 18-60 are eligible.

What types of machinery can farmers access through the scheme?

Farmers can access tractors, ploughs, seeders, harvesters, and other agricultural equipment.

How do farmers apply for the Farm Machinery Bank Scheme?

Farmers need to visit the nearest agricultural department, fill out the form, and submit the necessary documents.

What is the main objective of the Farm Machinery Bank Scheme?

The scheme aims to improve agricultural productivity by providing access to modern machinery at affordable rates.

What documents are required to apply for the scheme?

Applicants need identity proof, land ownership documents, income certificate, and bank account details.

What documents are required to apply for the scheme?

Applicants need identity proof, land ownership documents, income certificate, and bank account details.

What documents are required to apply for the scheme?

Applicants need identity proof, land ownership documents, income certificate, and bank account details.

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Farm Machinery Bank Scheme - Modern Agricultural Equipment

Pragya Pathak

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Updated: 28-01-2025 at 6:59 AM

Farm Machinery Bank Scheme - Modern Agricultural Equipment

It is crucial to keep up with the times and develop with the developing technology. The agriculture sector has been going through a lot of changes and one of those changes is the introduction of modern machineries such as tractors, ploughs, seeders, and harvesters that reduce labour and time required for various farming tasks. The use of modern machinery and technology is integral to adopt in one’s regular farming practices to increase productivity and the farmers’ returns.

To support and help farmers adopt modern machinery in their farming practices, the government of India launched the Farm Machinery Bank Scheme. The govt scheme was launched in various states to provide farmers, especially small and marginal ones, to access modern agricultural machinery and equipment at affordable rates.

Name of the scheme	Farm Machinery Bank Scheme
Launched by	Government of India
Launched in	2014
Types of machinery available	Tractors, ploughs, seeders, harvesters, and other equipment.
Benefits	Access to machinery at affordable rates to increase the productivity of the land and ease the farmers’ lives.

Also Read: How The Government is Investing In The Future Of Indian Agriculture

What Is The Farm Machinery Bank Scheme?

The Farm Machinery Bank Yojana is an initiative taken by the Indian government in 2014 to boost the efficiency and productivity of the agricultural sector by providing farmers access to modern machinery and equipment used in agriculture. The govt scheme is implemented across various states in the country, especially for small and marginal farmers. The scheme offers a wide range of machinery such as tractors, ploughs, seeders, harvesters, and other equipment to improve farming practices.

Usually, agricultural departments acquire various types of farm machinery and rent them out to farmers at affordable rates so that they can use modern farming practices and save time and labour. The Farm Machinery Bank Yojana also provides training and technical support to ensure that farmers can effectively use the machinery and improve their agricultural practices.

Objectives

The Farm Machinery Bank Yojana has certain key objectives to achieve the goal for which it was launched. Some of its key objectives are:

Agricultural productivity: The scheme aims to improve crop yields and overall farm productivity by providing farmers access to modern machinery and equipment.
Support small and marginal farmers: The Farm Machinery Bank Yojana was launched to support small and marginal farmers who lack the financial resources to invest in expensive agricultural machinery and equipment.
Promote modernisation in agriculture: The govt scheme encourages farmers to adopt modern practices in farming practices to reduce the dependence on manual labour and increase efficiency.
Increase farmers' income: The Farm Machinery Bank Yojana also aims to increase the income of the farmers by improving their land’s productivity and producing high-yielding crops.
Training and support: The scheme also aims to provide training and technical assistance to farmers on the effective utilisation of machinery and equipment.

Benefits

Various benefits come with the Farm Machinery Bank Yojana. Some of the key benefits are listed below:

Reduction of labour dependence: The application of machinery and equipment reduces the dependence on manual labour and saves time and effort.
Adoption of best practices: The scheme allows the farmers to access modern machinery and equipment and hence adopt best farming practices.
Enhanced quality of produce: The use of modern machinery can improve the quality of agricultural produce and make it more appealing and competitive in the market.
Boost to rural economy: The increased productivity and income of farmers contribute to the overall economic development of rural areas.
Agricultural diversity: With the help of modern techniques, farmers can easily diversify their crops and farming practices leading to improved resilience and income stability.

Eligibility Criteria

The eligibility criteria to successfully apply for the scheme are mentioned below. Make sure you fit the criteria before proceeding with the application procedure.

Small and marginal farmers with their agricultural land and active engagement in farming activities.
Farmers should be between the ages of 18 to 60 years.
Farmers should demonstrate the ability to operate machinery, taught and assessed through training.

Exclusion

The exclusion criteria of the scheme that prohibits people from reaping its benefits are:

Farmers with large landholdings and substantial income.
People who do not engage in agricultural practices.
Farmers who have defaulted on loans or outstanding debts are excluded.

Application Process

To apply for the Farm Machinery Bank Yojana, please follow the below-mentioned steps carefully to avoid any form of mistake that might lead to rejection or delay of your application.

Step 1: Please visit the nearest agricultural department or Farm Machinery Bank facility.

Step 2: Request an application form and fill it out by providing your and your land’s details, and the type of machinery needed.

Step 3: Attach the relevant documents with the application form and submit it.

Step 4: Applications would be put under review and after careful observation, the selected applicants' request for machinery is approved.

Step 5: After approval, farmers simply need to read and agree with the rent-related agreement of the machinery.

Documents Required

Certain documents are needed to apply successfully for the agriculture scheme. List of the needed documents is mentioned below, so make sure to acquire all documents carefully before proceeding with your application.

Identity proof
Land ownership documents
Income certificate
Cooperative membership proof (if applicable)
Passport-sized photographs
Bank account details
Training certificates (if applicable)

Conclusion

The Farm Machinery Bank Scheme is a transformative initiative taken by the government of India to allow small and marginal farmers to access and apply modern farming practices in their daily agricultural activity to improve productivity and efficiency.

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