Key points from the report
- Farm mechanization levels remain low; Custom Hiring remains the most viable solution
- Increase in farm mechanization levels the need of the hour to help keep pace with ever growing demand for agricultural produce
- Individual ownership of farm machinery for mechanization of small farm size holdings remains uneconomical; creation of farm machinery banks could prove to be the game changer
- Custom Hiring centers on the rise in several states – Table on Examples of Government Led CHC Initiatives
- Government promoting creation of Custom Hiring centers through Financial Assistance
- Private Players also setting up farm machinery banks
Click the below link to view the entire report:
icra-report-on-tractor-sector-oct-13-2016