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Chinese govt raises subsidy on cotton picking machines
09
Aug '13
China’s Ministry of Finance has allocated a total of 21.75 billion yuan in the 2013 central budget for purchase of agricultural subsidies, to enhance the level of agricultural mechanization and agricultural production capacity.
 
The budget is aimed at supporting farmers’ in their purchase of agricultural machinery and equipments, and thereby promoting stable agricultural production and increasing the income of farmers, including cotton growers.
 
The subsidies for buying agricultural machinery and equipments have been expanded this year to include 12 categories of 48 Class 175 items to improve the comprehensive agricultural production capacity.
 
This includes the increase in the subsidy limit to 150,000 yuan on large tractors of over 100 horsepower and large combine harvesters. The single subsidy limit on tractors with 200 horsepower has been increased to 250,000 yuan, while that for large cotton picking machine has been raised to 300,000 yuan.
 

Fibre2fashion News Desk - India


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