Tractor sales rise nearly 65% year on year in Aug as farming holds steady

Industry remains optimistic for festival months as the supply side has improved significantly compared to last month.

Tractor sales rose nearly 65 per cent year-on year-in August, lifted by good monsoons, better kharif sowing, crop prices holding up well, and steady retail finance. 

Industry representatives remain optimistic for the festival months as the supply side has improved significantly compared to last month.

T R Kesavan, president of the Tractor and Mechanisation Association (TMA), said earlier farmers are optimistic and rural economy is positive. He estimated around 7-10 per cent growth for the entire fiscal.

India’s rural population has been not been overwhelmed by Covid-19. Agricultural harvest and procurement have shown record improvements and combined with this PMKVY