Poultry Venture Capital Fund Scheme: Poultry Subsidy, Eligibility, and How to Apply

Table of Contents

• Introduction
• Understanding the Poultry Venture Capital Fund Scheme
• Poultry Subsidy and Financial Assistance
• Eligibility Criteria for Poultry Venture Capital Fund Scheme
• How to Apply for the Poultry Venture Capital Fund Scheme
• Conclusion

Introduction

Poultry farming is breeding, raising and rearing of fowls, ducks, and turkey to produce meat and eggs. It is an important sub-sector of the Livestock Sector in India. It contributes around 1% to the GDP of India and around 14% to the Livestock GDP. According to the 20th Livestock Census, 2019, India is home to around 851.81 million poultry birds. 

Poultry is one of the most affordable sources of meat in the country. According to the Ministry of Food Processing Industry, poultry meat accounts for 36% of total meat production. 

Besides, poultry farming also produces eggs, an essential dietary protein source for millions of Indians. According to FAOSTAT, India is the third largest producer of eggs in the world. 

The Government of India, realising the importance of poultry farming in improving the livelihood of the rural population, has launched a poultry farm government scheme to promote poultry farming in the country. One such programme is the Poultry Venture Capital Fund Scheme under the National Livestock Mission.

Understanding the Poultry Venture Capital Fund Scheme

The Department of Animal Husbandry, Dairy and Fisheries launched the Poultry Venture Capital Fund Scheme (PVCFS) as a Sub-Mission of the National Livestock Mission. The scheme is implemented through the National Bank for Agricultural and Rural Development (NABARD).

It is designed to promote entrepreneurship and self-employment in non-traditional areas of the poultry sector. It is one of the important Government Schemes to Promote Animal Husbandry in India. 

This Centrally Sponsored Scheme provides venture capital assistance to new and existing poultry units. This assistance helps cover various aspects of poultry farming, including purchasing poultry birds, constructing sheds, purchasing equipment, and other related infrastructure.

Poultry Subsidy and Financial Assistance

Under the PVCF Scheme, financial assistance is extended to poultry farmers as a subsidy. The subsidy is provided on the capital cost of the project. The quantum of subsidy varies based on the category of entrepreneurs.

• Individual Entrepreneurs: The subsidy for individuals in the General Category is typically 25% of the project cost.
• Backwards and Hilly Areas: The subsidy is higher for entrepreneurs from backward and hilly areas and the SC/ST community, covering up to 33% of the project cost.
• Besides, the entrepreneur's contribution in the form of a margin is zero for loans below INR 1 lakh. And for loans above INR 1 lakh, the margin is 10%. 

The poultry farm government subsidy varies from state to state. For instance, the subsidy for poultry farming in Karnataka is between 50 and 90%, whereas the poultry farm subsidy in Maharashtra is up to 50% of capex under the Navinypuarn Scheme.

Eligibility Criteria for Poultry Venture Capital Fund Scheme

Aspiring poultry entrepreneurs need to meet specific eligibility criteria to avail of the benefits of the Poultry Venture Capital Fund Scheme. Here are the key points to consider:

• Indian Citizenship: The applicant must be a citizen of India.
• Entrepreneurial Entity: Individual entrepreneurs, farmers, cooperatives, NGOs, companies, cooperatives, Self-Help Groups (SHGs), Joint Liability Groups (JLGs), etc.
• Family Members: If more than one family member is seeking assistance under the scheme, then the poultry farm of each family member shall be set up at a distance of at least 500 meters.
• Clearances: Biosecurity norms should be followed while locating and setting up a poultry farm.
• Assistance for all the components under the scheme will be provided to individuals only once for each component.

How to Apply for the Poultry Venture Capital Fund Scheme

Here's a step-by-step guide on how to apply for financial assistance under the Poultry Venture Capital Fund Scheme. 

To apply under the scheme, first approach the nearest Block Veterinary Officer, Veterinary Assistant Surgeon, or the Chief Animal Husbandry Officer of the concerned District along with:

• Affidavit of being unemployed and not a loan defaulter of financial institutions 
• Ration card (photocopy) 
• For loan amounts exceeding INR 1 lakh, mortgage of land papers
• Category Certificate (photocopy) 
• Driving License if the poultry farm is mobile.

Conclusion

The Poultry Venture Capital Fund Scheme is an all-encompassing scheme to promote Poultry Farming in India. It provides financial assistance through capital subsidies and bank loans to start a poultry farm or fund an existing firm. This self-employment programme will go a long way in promoting entrepreneurship in the country.