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Rs.553 CR Funds Released to State Under SMAM

Rs.553 CR Funds Released to State Under SMAM

Rs.553 CR Funds Released to State Under SMAM

10/09/2020

The Centre has released ₹553 crore to States under a scheme to promote mechanisation in the agriculture sector.

The Sub-Mission on Agricultural Mechanisation (SMAM) was introduced in April 2014 with an aim to have inclusive growth of farm mechanisation to boost productivity.

“In the year 2020-21, budget of ₹1,033 crore has been provided for the scheme, out of which ₹553 crore has been released to state governments,” an official statement said.

Agricultural mechanisation helps in increasing production through timely farm operations and cut in operations by ensuring better management of inputs.

Individual farmers are also provided subsidy for procurement of machinery. Total funds of ₹11,78.47 crore were provided in the years 2018-19 & 2019-20 to Punjab, Haryana, Uttar Pradesh and NCT.

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Source: TheHindu