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More than half of the population of India is engaged in agriculture and related activities. This is not just in the rural areas. If you think about it, once the crops have been harvested they have to be transported to different parts of the country. In other cases, they have to be processed in order to create finished products you purchase in retail shops. In order to do all of these things, a huge number of people are required. Thus, directly and indirectly, agriculture is a source of livelihood for millions of people in India. The industry has managed to make great progress in recent time this is especially true due to the efforts of the Green Revolution of 1991. Prior to this reform, the methods used were very traditional and crude. Another point to be noted was the fact that farmers were still dependent on rainfall as their supply for water. If the monsoons were poor, production would be seriously affected and this would result in a poor harvests and a shortage of food grains. A huge amount of money was spent to import food grains and to make sure that the people were well fed. The Government was aware for the need for reforms and hence, they started a number of efforts like introduction of irrigation and hybrid grains. They also provided affordable loans to the farmers and offered fertilizers at affordable rates. This was a huge success and was reflected in the increase in production. As a result, the income of the farmers increased and they were able to invest their profits in various modern farming techniques, like tractors. There is no arguing with the fact that a tractor can go a long way in making the lives of farmers extremely convenient. This one piece of equipment can help to plough the field in a matter of hours, a task that would traditionally take years to be finished. It can also be used to sow seeds with the help of a mechanical drill. Lastly, it can be used to transport things from one part of the field to the next. However, this vehicle can be very expensive and farmers will require a good amount of money in order to purchase it. This is when tractor loans come in to the picture. Banks and financial organizations offer these loans at reasonable rates of interest, so that they are easy to afford. The loans are offered for 90-95% of the cost of the vehicle and no distinction is made depending of the brand of the vehicle they have chosen to invest in. The process of applying for the same is also relatively easy and is based on the land holding of the farmer. Payments can be made on annually, semi-annually or quarterly according to the loan selected. Thus, with the help of this loan a farmer can purchase a brand new tractor. This will go a long way in reducing physical labour and will allow him to get his work done in the least possible time.
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tractor, tractor loan, tractor finance, auto loan, magma,
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