If you are planning to purchase a tractor or related equipment for farming needs, there are many financing options available for you. The central government offers the PM Kisan Tractor Yojana for this purpose, which involves subsidies on buying a tractor.
Details about the PM Kisan Tractor Yojana
The Government of India is offering this scheme to help India’s farmers buy tractors at a discounted rate. The scheme is available for every Indian farmer, irrespective of their state of residence. The objective of this scheme is to provide farmers with finance so that they can afford modern equipment that aids in agricultural growth and productivity. With this scheme, farmers can purchase modern farming machinery at an affordable price.
A tractor loan or subsidy can make all the difference in your farming business, as it can help you financially and allow you to buy the machinery you need. Read on to know more about the scheme’s eligibility criteria and application process.
Eligibility of the PM Kisan Tractor Yojana
To apply for this scheme:
- You must have a farming land registered in your name
- You must have an Aadhaar card
- You must not be under any similar state or central government schemes for the first seven years of application
Here are the PM Kisan Tractor Yojana documents and information you need to submit while applying for the scheme:
- Aadhaar card, passport, driving license, voter ID card, or PAN card
- Land-related documents
- Mobile number
- Bank passbook
- Passport-size photograph
To apply for the Pradhan Mantri Kisan Tractor Scheme offline, visit your nearest Jan Seva Kendra. You can submit the application and the required documents there. They will provide you with a slip that you can use to check the application status later.
You can also apply for the scheme online by following these steps:
- Visit the PM Kisan Tractor Yojana portal
- Provide information for the digital application
- Send the application after filling in the details carefully
The Pradhan Mantri Kisan Tractor scheme is a great option to get financing for a new tractor. However, you can also opt for a loan from Mahindra Finance. With easy documentation, reasonable tractor loan interest rates, flexible repayment tenure, and two-day loan sanctioning, Mahindra Finance will help you own the tractor of your dreams. To apply, visit its website now and learn about the tractor loan eligibility criteria.