Economic analysis of custom hiring service centres in Tumakuru district of Karnataka

Economic analysis of custom hiring service centres (CHSCs) involves a systematic assessment of the financial aspects, operational dynamics, and socioeconomic implications of these specialized facilities. The study was an "expost-facto" research carried out in Tumakuru district of Karnataka state during the year 2020-21 to study the economic performance of CHSCs in Tumakuru district, eight taluks were selected where the custom hiring service centres working effectively. The results pertaining to an economic analysis of custom hiring service centres showed that "Krushi Yantradhaare Yediyur" is more economically feasible with the highest (2.37) B:C ratio amongst all CHSCs, Krushi Yantradhaare Bellavi needs to attract 977.48hrs of farm machinery services from the farmers to cover fixed and variable costs occurred in the year, Krushi Yantradhaare Yediyur is having a higher (58.22) gross profit margin and higher (49.45) operating margin. An economic feasibility analysis was carried out to evaluate the feasibility of investment made by the different CHSCs. Economic analysis of a CHSC studies mainly on the profit in which the centre is making. This analysis aims to shed light on how custom hiring service centres contribute to regional and national economies, optimize resource allocation, and enhance agricultural productivity. By examining the economic performance of these centres, we can gain valuable insights into their role in promoting sustainable agriculture and rural development.