NEW DELHI: Seeking to make farming a remunerative financial activity , the federal government on Wednesday revved up its farm growth plan with `Raftaar' (Remunerative approaches for the agriculture and allied sectors' rejuvenation).
It rebranded its ongoing central scheme, Rashtriya Krishi Vikas Yojana (RKVY), as RKVY-Raftaar and authorized its continuation for 3 years (2017-20) with financial allocation of Rs 15,722 crore.
The approval of its rebranding and continuation came from the Cabinet Committee on Economic Affairs (CCEA), chaired through PM 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 maximise returns to farmers", said an reliable statement.
The RKVY-Raftaar scheme will incentivise states in improving their allocations to agriculture and allied sectors.Funds can be supplied in a 60:40 ratio to states except for those within the northeast and Himalayan states which is able to get 90:10 grant.
Under the scheme, 50% of the once a year outlay can be for setting up farm infrastructure and assets, 30% for value-addition connected production tasks and 20% can be flexi-funds for tasks in song with local wishes.
The emphasis can be on involving early life in agriculture thru various incentives so that it will provide jobs in rural areas and lend a hand in attaining the target of doubling farmers' source of revenue through 2022. RKVY was introduced throughout 2007-08 to succeed in four% annual growth in farm sector through making sure a holistic building as consistent with a resolution of the National Development Council.
It rebranded its ongoing central scheme, Rashtriya Krishi Vikas Yojana (RKVY), as RKVY-Raftaar and authorized its continuation for 3 years (2017-20) with financial allocation of Rs 15,722 crore.
The approval of its rebranding and continuation came from the Cabinet Committee on Economic Affairs (CCEA), chaired through PM 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 maximise returns to farmers", said an reliable statement.
The RKVY-Raftaar scheme will incentivise states in improving their allocations to agriculture and allied sectors.Funds can be supplied in a 60:40 ratio to states except for those within the northeast and Himalayan states which is able to get 90:10 grant.
Under the scheme, 50% of the once a year outlay can be for setting up farm infrastructure and assets, 30% for value-addition connected production tasks and 20% can be flexi-funds for tasks in song with local wishes.
The emphasis can be on involving early life in agriculture thru various incentives so that it will provide jobs in rural areas and lend a hand in attaining the target of doubling farmers' source of revenue through 2022. RKVY was introduced throughout 2007-08 to succeed in four% annual growth in farm sector through making sure a holistic building as consistent with a resolution of the National Development Council.
Farm plan given 'Raftaar', extended for three years
![Farm plan given 'Raftaar', extended for three years]()
Reviewed by Kailash
on
November 02, 2017
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