Huge subsidies for sericulture: India’s silk board chief

India’s Central Silk Board is offering huge subsidies, including benefits in purchase of fertilizer and pesticides to selling of cocoons and yarn, to farmers preferring sericulture along with free training on best farm practices, says board chairman KH Hanumantharayappa. The subsidies are up to 90 per cent for scheduled caste and scheduled tribe farmers.

Hanumantharayappa said this recently after interacting with mulberry farmers from Gollaprolu and Chebrolu in Andhra Pradesh, according to a report in a top south Indian newspaper. Andhra Pradesh holds second place in the country in silk cocoon production.

The central government, through the Silk Board, offers subsidy to the tune of Rs. 1 crore on the machinery used for yarn making that costs Rs. 1.4 crore, he said.

All subsidies would be released within 24 hours of submitting the application and there is no need of providing bank guarantee, he added.