NABARD and Ministry of Micro, Small and Medium Enterprises (MSME) promotes this scheme to encourage entrepreneurship and employment opportunities in rural and backward areas. Poultry has an important role in India as eggs and meats are the important and comparatively cheap source of protein and vitamins. Chicken is most widely accepted meat in India. Secondly, chicken has no religious taboos like pork and beefs. Eggs have become an important ingredient of morning breakfast for a large number of families in urban areas. So overall the poultry business seems to be a good option for someone who want to start a new business with less investment.
Financial Assistance under this Scheme
NABARD provides 25 % of outlay as back ended capital subsidy and 33% in the case of SC/ST and North East states. It means the interested business person or an entrepreneur has to first avail a bank loan only then subsidy can be availed. In simple terms, 25% of your total investment will be adjusted as back ended capital subsidy.
In order to avail the subsidy – 40% of the outlay cost should be availed as bank loan. For instance, for an outlay costing 10 Lakh your bank loan must be 4 Lakh.
For loans more than 1 Lakh – 10% of the outlay cost should be contributed by the entrepreneur.
