Let’s talk about subsidies.
India provides many subsidies for agriculture under government boards and schemes. When government subsidies are implemented, it stimulates agricultural production. This increases the overall supply, which increases the quantity of demand and thereby lowers the overall price of the goods or services.
The National Horticulture Board scheme of the government provides a subsidy of 50% for the greenhouse project cost of INR 36 lakhs as a maximum ceiling. The blue revolution scheme launched in 2016, helps in the extension of aquaculture by providing 60% subsidies for building up any fishery unit by development of new tanks, remodeling and meeting other related expenses. Under the new scheme of NHB there is a subsidy provided for Aquaponic components of 20% as well. The government also offers subsidies on electricity, charging low rates for the electricity supplied to the farmers. This subsidy brings down operational cost by reducing costs from 8 Rs a unit to 4 Rs a unit in India.
Recently we have seen how aquaponics, although capital intensive, is becoming popular owing to its sustainability and benefits such as being eco-friendly, low- maintenance cost, its efficient and organic methods of producing food etc. But don’t let the cost factor derail your plan, I’m here to put your mind at ease and tell you that with the government extending its support to the agriculture sector, now seems like the perfect time to start your own aquaponic farm. The setup costs for a one -acre farm will surely cost you around 1.5 crore Rs, but here is where the government subsidies play in your favour. By availing the subsidies provided by our government, expenses can be brought down up to 40%, costing you around 90 to 95 lakhs at least for a one-acre farm.
But to benefit from these subsidies, one must follow the government guidelines and here is where Eat Neat Project makes it easier for you.
We see a lot of Aquaponic farms in India set up by foreign Aquaponic consultants usually overlooking the subsidies part, by doing so, they are automatically increasing the CAPEX & the OPEX of the farm making it less profitable. By overlooking subsidies, usually their designs do not follow the guidelines of the local bodies. Despite this, a lot of foriegn Aquaponic consultants operating in India use raw materials that are of high cost and highly unnecessary. For example, fiberglass fish tanks; these tanks are not only 10x expensive but also do not fetch subsidies. We have also seen some large Aquaponic farms that operate on solar panels, although we are huge fans of sustainability and green energy, solar panels do not really make financial sense for farms in India when you look at the ROI, considering how the Indian government has its electricity rates subsidised by half for agriculture purposes.
Being well- versed with the guidelines of local bodies in India, Sri Lanka and the Middle East, we design farms strictly adhering to the guidelines. ENP ensures proper paperwork, documentation, filing and acquiring subsidies that make your farm less capital intensive and more profitable in terms of ROI. Going Organic? More like OR-GAIN-IC, for with us you only stand to gain.