Agriculture

Rashtriya Krishi Vikas Yojana is now RKVY-RAFTAAR

The financial allocation of the scheme will be Rs. 15,722 crore with the objective of making farming as a remunerative economic activity through strengthening the farmers’ effort, risk mitigation and promoting agribusiness entrepreneurship

Rashtriya Krishi Vikas Yojana is now RKVY-RAFTAAR

The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the continuation of Rashtriya Krishi Vikas Yojana (RKVY) as Rashtriya Krishi Vikas Yojana – Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR) for three years, 2017-18 to 2019-20. The financial allocation of the scheme will be Rs. 15,722 crore with the objective of making farming as a remunerative economic activity through strengthening the farmers’ effort, risk mitigation and promoting agribusiness entrepreneurship, a Central statement has said.
 
RKVY-RAFTAAR funds would be provided to the States as 60:40 grants between Centre and States while 90:10 for North Eastern and Himalayan States through various means.

Regular RKVY-RAFTAAR (Infrastructure & Assets and Production Growth) with 70% of annual outlay to be allocated to states as grants based for infrastructure and assets with 50% of regular RKVY-RAFTAAR outlay, value addition linked production projects with 30% of regular RKVY-RAFTAAR outlay and flexi-funds with 20% of regular RKVY-RAFTAAR outlay. The states can use this for supporting any projects as per the local needs.
 
The scheme will incentivise states in enhancing more allocation to agriculture and allied sectors. This will also strengthen farmers’ efforts through creation of agriculture infrastructure that help in supply of quality inputs, market facilities  among other related requirements. This will further promote agri-entrepreneurship and support business models that maximise returns to farmers, a Government of India press statement has said.
 
RKVY is a continuing scheme under implementation from XI Five Year Plan. The scheme provides considerable flexibility and autonomy to States in planning and executing programmes for incentivising investment in agriculture and allied sectors. States initiate the process of decentralised planning for agriculture and allied sectors through preparation of District Agriculture Plans (DAPs) and State Agriculture Plan (SAP) based on agro-climatic conditions, availability of appropriate technology and natural resources to ensure accommodation of local needs, cropping pattern, priorities etc.

The programme has also enabled adoption of national priorities without affecting the autonomy and flexibility of States through sub-schemes. National priorities like Bringing Green Revolution to Eastern India (BGREI), Crop Diversification Program (CDP), Reclamation of Problem Soil (RPS), Foot & Mouth Disease – Control Program (FMD-CP), Saffron Mission, Accelerated Fodder Development Programme among various other initiatives are being implemented through the window of RKVY, the statement says.
 
During XI Plan and XII Plan, States have taken over 13,000 projects in agriculture and allied sectors through State Agriculture Department as Nodal Implementing Agency. The interim report of RKVY evaluation done by Institute of Economic Growth summarises that the income emanating from agriculture measured as the agricultural state domestic product (AGSDP) is higher in the post-RKVY period than in the pre-RKVY period. Further, almost all the states registered higher value of output from agriculture and allied activities in the post-RKVY period. Continuation of RKVY-RAFTAAR will therefore keep the momentum of agriculture and allied sector growth.

- Advertisement -