High Cost and Limited Financial Support for Machinery

Problem Statement

The high capital investment required for purchasing modern, specialised machinery limits its adoption by individual small and marginal farmers, despite subsidies. Existing financial support mechanisms can be slow and complex.

Innovation Opportunities

• Pay-Per-Use and SHG-focused Ownership Models: Development of technology systems (e.g., smart locks, usage tracking) that enable ownership models like fractional ownership or rental services for Self-Help Groups (SHGs) and Farmer Producer Organisations (FPOs).
• Integrated Scheme Delivery Platforms: Digital solutions that streamline the application, verification, and disbursement process for government subsidies related to farm machinery purchases, linked to certified vendors.

Use Case Example

An FPO uses a pay-per-use model for a combine harvester, where the usage is tracked via an IoT device, and the FPO is billed automatically based on the hours of operation.