Updated By: LatestGKGS Desk
Rashtriya Krishi Vikas Yojana (RKVY) gets Union Cabinet approval for next 3 years
Cabinet approved extension of Rashtriya Krishi Vikas Yojana (RKVY) for a period of three years
The Cabinet Committee on Economic Affair has approved the continuation of Rashtriya Krishi Vikas Yojana (RKVY) as Rashtriya Krishi Vikash Yojana-Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR) for a period of three years from 2017-18 to 2019-20.
The Committee meeting was chaired by Prime Minister Sri Narendra Modi. RKVY-RAFTAAR will incentives states in increasing allocations to agricultural and allied sector boost farm output.
It will also strengthen farmers’ efforts through the creation of agricultural infrastructure that helps in supply of quality inputs and market facilities. It will further promote agri-entrepreneurship and support business models that maximize returns to farmers.
The financial allocation of the scheme will be Rs 15, 722 Crore with an objective to make farming a remunerative activity through strengthening farmers’ efforts, risk mitigation and promoting agribusiness entrepreneurship.
The RKVY-RAFTAAR funds would be provided to the states in a 60:40 ratio as grants from the Centre and a 90:10 ratio for the north-eastern and Himalayan states (IANS)
