ForumIAS announcing GS Foundation Program for UPSC CSE 2025-26 from 19 April. Click Here for more information.
ForumIAS Answer Writing Focus Group (AWFG) for Mains 2024 commencing from 24th June 2024. The Entrance Test for the program will be held on 28th April 2024 at 9 AM. To know more about the program visit: https://forumias.com/blog/awfg2024
News: Central Government has released Rs 553 crore to states under the Sub-Mission on Agricultural Mechanization(SMAM).
Facts:
- Sub-Mission on Agricultural Mechanization(SMAM): It was launched in 2014 with an aim to have inclusive growth of farm mechanization to boost productivity.
- Objectives:
- Increasing the reach of farm mechanization to small and marginal farmers and to the regions where availability of farm power is low;
- Promoting ‘Custom Hiring Centres’ to offset the adverse economies of scale arising due to small landholding and high cost of individual ownership;
- Creating hubs for hi-tech & high value farm equipments;
- Creating awareness among stakeholders through demonstration and capacity building activities;
- Ensuring performance testing and certification at designated testing centers located all over the country.
Additional Facts:
- Agriculture Infrastructure Fund: It is a Central Sector Scheme which aims to provide medium to long-term debt financing for setting up of post-harvest infrastructure and community assets for marketing of farm produce.
- Approach: Under the scheme, Rs. 1 Lakh Crore will be provided by banks and financial institutions as loans with interest subvention of 3% per annum and credit guarantee coverage under Credit Guarantee Fund Trust for Micro and Small Enterprises(CGTMSE) scheme for loans up to Rs. 2 Crore.
- Duration: The duration of the scheme shall be from FY2020 to FY2029 (10 years).
- Beneficiaries: Farmers, PACS, Marketing Cooperative Societies, FPOs, SHGs, Joint Liability Groups (JLG), Multipurpose Cooperative Societies, Agri-entrepreneurs, Startups, and Central/State agency or Local Body sponsored Public-Private Partnership Projects.
- PM KISAN: It is a Central Sector Scheme launched in 2018 to provide income support by way of a cash benefit to all landholding farmers (subject to certain exclusion criteria) to enable them to fulfill their agricultural requirements and support their families.
- Under the scheme, the financial benefit of Rs.6000/- per year is provided to eligible beneficiary farmers in three equal installments.
