Mudra is a refinancing programme for banks and microfinance organisations. This programme is primarily aimed at small and medium-sized businesses (SMBs) across the country. It is solely available for any Indian person who has ambitions for a non-farming sector income-generating venture in the industrial or service sectors can avail of the MUDRA Loan.
As goat farming falls under the farming sector, you may not be able to obtain a MUDRA loan.
However, there are various other government-backed schemes to help you with goat farming.
Goat Farming Loans available in India
- Various state governments, in collaboration with banks and NABARD, offer subsidy schemes to encourage goat farming.
- It is a very profitable and sustainable type of business with significant long-term rewards.
- Loans at competitive interest rates are available from several financial institutions to assist individuals/groups in starting a goat farming business.
NABARD Schemes for Goat Farming
A borrower can receive a subsidy of 25% to 35% of the money spent on goats under the NABARD Scheme. People from the SC/ST group who fall into the BPL category are eligible for a subsidy of up to 33%, while those from the OBC community are eligible for a 25% subsidy up to Rs.2.5 lakh.
You may also read: Animal Husbandry Loans in India