NEW DELHI: Seeking to make farming a remunerative economic activity, the government on Wednesday revved up its farm growth plan with 'Raftaar' (Remunerative Approaches for The Agriculture and Allied sectors Rejuvenation).
It re-branded its ongoing central scheme, Rashtriya KrishiVikasYojana (RKVY), as RKVY-RAFTAAR and approved its continuation for three years (2017-20) with financial allocation of Rs 15,722 crore.
The fund will be spent on strengthening agriculture infrastructure, risk mitigation, value-addition linked production and promoting agri-business entrepreneurship. The emphasis of this revamped scheme will be on creating post-harvest infrastructure and promotion of private investment in the farm sector across the country in a big way.
The approval of its re-branding and continuation came from the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday.
"This will strengthen farmer's efforts through creation of agriculture infrastructure that help in supply of quality inputs and market facilities. This will further promote agri-entrepreneurship and support business models that maximize returns to farmers", said an official statement.
The RKVY-RAFTAAR scheme will incentivise states in enhancing more allocation to agriculture and allied sectors. Its funds will be provided in the ratio of 60:40 to the states except for the northeast and Himalayan states which will get 90:10 (centre:state) grant.
Under the scheme, 50% of the annual outlay will be provided for setting up farm infrastructure and assets, 30% for value-addition linked production projects and 20% will be flexi-funds for supporting any project as per the local needs.
The emphasis will also be on involving youth in agriculture through various incentives so that it will not only provide jobs to people in rural areas but also help in achieving the target of doubling farmers' income by 2022.
The RKVY was launched during 2007-08 to achieve 4% annual growth in farm sector by ensuring a holistic development as per a resolution of the National Development Council (NDC). The Centre had allocated Rs 25,000 crore for this scheme during 11th plan period (2007-12) and Rs 63,246 crore during 12th plan period (2012-17).
The scheme is being implemented as a 'special additional central assistance' scheme to incentivise states to draw up comprehensive plans taking into account agro-climatic conditions and natural resources for ensuring more inclusive and integrated development of agriculture and allied sectors.
It has, at present, six sub-schemes including spreading green revolution to eastern India, initiative on vegetable clusters, national mission for protein supplements, saffron mission (economic revival of J&K saffron), crop diversification and Vidarbha intensive irrigation development programme.
It re-branded its ongoing central scheme, Rashtriya KrishiVikasYojana (RKVY), as RKVY-RAFTAAR and approved its continuation for three years (2017-20) with financial allocation of Rs 15,722 crore.
The fund will be spent on strengthening agriculture infrastructure, risk mitigation, value-addition linked production and promoting agri-business entrepreneurship. The emphasis of this revamped scheme will be on creating post-harvest infrastructure and promotion of private investment in the farm sector across the country in a big way.
The approval of its re-branding and continuation came from the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday.
"This will strengthen farmer's efforts through creation of agriculture infrastructure that help in supply of quality inputs and market facilities. This will further promote agri-entrepreneurship and support business models that maximize returns to farmers", said an official statement.
The RKVY-RAFTAAR scheme will incentivise states in enhancing more allocation to agriculture and allied sectors. Its funds will be provided in the ratio of 60:40 to the states except for the northeast and Himalayan states which will get 90:10 (centre:state) grant.
Under the scheme, 50% of the annual outlay will be provided for setting up farm infrastructure and assets, 30% for value-addition linked production projects and 20% will be flexi-funds for supporting any project as per the local needs.
The emphasis will also be on involving youth in agriculture through various incentives so that it will not only provide jobs to people in rural areas but also help in achieving the target of doubling farmers' income by 2022.
The RKVY was launched during 2007-08 to achieve 4% annual growth in farm sector by ensuring a holistic development as per a resolution of the National Development Council (NDC). The Centre had allocated Rs 25,000 crore for this scheme during 11th plan period (2007-12) and Rs 63,246 crore during 12th plan period (2012-17).
The scheme is being implemented as a 'special additional central assistance' scheme to incentivise states to draw up comprehensive plans taking into account agro-climatic conditions and natural resources for ensuring more inclusive and integrated development of agriculture and allied sectors.
It has, at present, six sub-schemes including spreading green revolution to eastern India, initiative on vegetable clusters, national mission for protein supplements, saffron mission (economic revival of J&K saffron), crop diversification and Vidarbha intensive irrigation development programme.
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