The Cabinet Committee on Economic Affairs has decided to the continue Rashtriya Krishi Vikas Yojana (RKVY).
- It will be continued as Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR) for three years i.e. 2017-18 to 2019-20.
- Rs. 15,722 crore will be allocated for the scheme.
- The objective of the scheme is to make farming as a remunerative economic activity through strengthening the farmer's effort, risk mitigation and promoting agribusiness entrepreneurship.
Key Features
- RKVY-RAFTAAR funds would be provided to the States as 60:40 grants between Centre and States
- It will ve 90:10 for the North Eastern States and the Himalayan States
- The scheme will motivate States to increase more allocation to Agriculture and Allied Sectors.
- This will also strengthen farmer’s efforts through the creation of agriculture infrastructure that help in supply of quality inputs, market facilities etc.
What is Rashtriya Krishi Vikas Yojana?
- Rashtriya Krishi Vikas Yojana is a State Plan Scheme of Additional Central Assistance
- It was launched in August 2007 as a part of the 11th Five Year Plan 2007–11
- It seeks to achieve 4% annual growth in agriculture through development of Agriculture and its allied sectors as defined by the Planning Commission (India)
