India is one of the largest producers of goat milk and goat meat in the world. With the increasing demand of goat milk, many farmers are now entering in the goat farming business. Goat farming business profits are totally dependent on investment, and that is why the financial support is the only obstacle in this business.
To encourage the goat farming business among farmers, government has come up with many loans and subsidy schemes.
Goat farming is dependent on weather and environment and that is the reason goat farming is mainly done in Orissa, Jharkhand, Uttar Pradesh, West Bengal, Bihar, Maharashtra, Madhya Pradesh, Rajasthan, Andhra Pradesh, Karnataka, Telangana and, Tamil Nadu states of India.
Who Gives Loan for goat farming?
In association with National bank of Agriculture and Rural Development (NABARD) and other local banks, government come up with many loan and subsidy policies for goat rearing.
If you want to start goat farming, you can get subsidy from NABARD and other banks. You can avail subsidy amounts varying from 25% to 35% of the total cost of purchase of goats.
Many people don’t know about the loan and subsidy schemes provided by the government for the farmers who want to start goat farming.
Eligibility Criteria for Individuals
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Start-up Entrepreneurs
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Small farmers and Marginal farmers
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Unemployed individuals
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Skillful individuals
There must be proper transportation facility near goat farms and all other facilities such as proper sanitization and water management facility must also be available.
NABARD loan for Goat Farming
NABARD provides loan for goat farming with the help of following institutions-
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Regional Rural Banks
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State Cooperative Agriculture and Rural Development Banks
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State Cooperative Banks
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Urban Banks
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Commercial Banks
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Others eligible for refinance from NABARD
As per NABARD’s scheme, people falling under the poverty line, SC/ST category will get 33% subsidy on goat farming. And for other groups, people who fall under OBC and general category will get 25% subsidy of maximum Rs. 2.5 lakh. And loan repayment duration is up to 12 years.
Are there any other Banks Providing Goat Farming Loans?
Yes, some other banks are also providing loans for goat farming business. Here is the list of those banks.
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State Bank of India (SBI)
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IDBI Bank
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Maharashtra Bank
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Canara Bank
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Regional Rural Banks
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Cooperative Banks
What are the Documents Required for Goat Farming Loan Application?
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Address Proof
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Income Proof
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Aadhar Card
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4 passport size photographs
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BPL Card, if available
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Caste Certificate, if SC/ST/OBC
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Domicile certificate
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Goat farming project report
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Original land registry papers
Once the application is submitted, it may take few weeks to get approved. For small farmers it is suggested to start with small number of goats, once he/she gains some experience and profit, he/she can purchase more goats.
Behave politely with your goats, and they will also give you good returns for sure, all the best for landing your first foot in the world of goat farming. For more information like this, stay connected...!!
