3% subsidy on interest for setting up milk, meat units in Punjab

CHANDIGARH: To encourage farmers to diversify from the traditional crop cycle and explore allied occupations, the Punjab government has introduced a new scheme under which 3% discount will be given on the interest rate for setting up units of milk and milk products, meat, cattle feed and silage.

The state’s animal husbandry, fisheries and dairy development minister, Tript Rajinder Singh Bajwa on Sunday said the scheme will continue for three years and ₹15 crore has been reserved by the Government of India for this.

“With the implementation of this scheme, new industries will come up in the state and consumers will get quality products,” the minister said.

Punjab dairy development director Inderjit Singh said, “Nowadays, consumers are opting for Ultra Heat Treated Milk and long-kept milk from trusted companies, rather than buying milk on a daily basis,” he said, adding, “But apart from Milkfed, there is no other unit in Punjab that produces and sells this milk. This is a golden opportunity to benefit from the scheme.”