Close to 58 % of India’s population depends upon agriculture as their primary source of livelihood.In 2018, Gross Value Added by agriculture and allied industries such as forestry and fisheries stood at 18.53 trillion (US$ 271.00 billion). However, only 65 % of the rural population is engaged in agriculture with a take home income of just Rs 6,500 per month.
India ranks second in the world when it comes to farm output, however, the Indian farmer is still beset with manual labour and high operational costs. This is where technology could be a gamechanger for farmers. Farm equipment such as tractors could play a vital role to help India achieve a target of doubling farm income by 2022.
Close to 6 to 7 lakh tractors are sold every year in India, making this the largest category of farm equipment. Today, India is not only the biggest manufacturer but also the biggest market in the world for tractors. The tractor market is growing at a compounded annual growth rate (CAGR) of 8 to 10 %.
Here is why buying a tractor could transform your farming experience:
Source: TechSci Research
1. Increased efficiency:
Every summer vacation when Suresh would come to his village from his college in the city, he would see how hard his father worked. He would get up at the crack of dawn and feed the cows and then take them to their field for tilling and sowing, depending on the season. Suresh dreamt of a day he could earn well and give his father some rest from this laborious life. If Suresh’s father could take a loan to buy a tractor, his life would have transformed. Not only would it help him save time, but he could get more work done in less time thus increasing his efficiency. Instead of depending on farm animals, you can employ a tractor with cultivators, rotavators, sprayers, threshers and other equipment to make farming convenient.
2. Reduce production costs:
Farm automation is directly related to the yield. So buying a tractor could help you save 15 to 20 % on seeds and fertilisers since machines bring in more precision.Tractors can help with tillage, sowing, inter-row crop cultivation and harvesting bringing a smile on your face as you look forward to farming. They also help increase cropping intensity leading to more productivity than before. A reduction in the cost of production could be an incentive for you to take a personal loan to buy a tractor available on Finserv MARKETS .
3. Increases land cultivability:
Farmers who reside in difficult terrain such as mountains, desert areas and rocky surfaces know fully well how time consuming it is to till such land. More often they tend to give up. This is where farm automation equipment such as a tractor can be a boon. As opposed to manual labour, advanced tiling techniques employed by these machines can help convert waste land into agricultural land thus boosting your profits when the harvesting season approaches.
4. More comfortable:
Imagine sitting in an adjustable deluxe seat in a tractor with dual clutch, nine forward and three reverse gears and oil immersed disc brakes. Thanks to the powerful hydraulics, you can easily lift harvest of upto 1500 kgs. Buying a tractor can make large scale fieldwork a breeze, instead of a chore. So don’t think twice! Go get that tractor with the help of a personal loan for agriculture on Finserv MARKETS.
5. Choose your own machine:
With more than 16 domestic players and a few global companies, there is a wide range of tractors available in the market today. So whether you have a small orchard or a farm of many acres, you can take your pick. Whether you are looking for powerful hydraulics or more gears, a noise free operation, comfortable cabin or power steering, you won’t be disappointed. Farm automation in India is equipped with the latest technology to help you deliver better results in the field.
You can take a personal loan to buy a tractor on Finserv MARKETS. There is no lengthy paperwork and no collateral required. Simply log on to the website and fill in your personal and employment details. Specify the loan amount and select a tenure for repayment as per your convenience.
Just submit a few necessary documents and you can get your loan approved online within 3 minutes on Finserv MARKETS with the amount reflected in your bank account within a day. Isn’t that great?
Be a part of the Indian growth story and rejoice with better crop yields with technology by your side. Choose to be a smart farmer and transform your future. Because that is what will shape the future of India.
You can also avail specialized dairy farm business loan for your business only at Finserv MARKETS
Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.