World Bank assisted project SMART launched in Maharashtra

Maharashtra Government has launched World Bank assisted- State of Maharashtra's Agribusiness and Rural Transformation (SMART) Project to transform rural Maharashtra.

• This project aims to revamp agricultural value chains, with special focus on marginal farmers across 1,0000 villages.
• This initiative is in line with Union Government's step towards doubling farmers' income by 2022.
• The launch of the project was followed by signing of 50 memorandum of understandings (MoUs) between big corporates and farmers producer groups.

About the State of Maharashtra's Agribusiness and Rural Transformation (SMART) Project:

• The objective of this project is to create and support value chains in post-harvest segments of agriculture, facilitate agribusiness investment, stimulate SMEs within the value chain.
• It will also support resilient agriculture production systems, expand access to new and organised markets for producers and enhance private sector participation in the agribusiness.
• The project will be implemented in 10,000 villages of total 40,913 villages in states with objective to achieve sustainable farming within the next three years. 
• It will cover almost one-fourth of Maharashtra.
• Its focus is on villages which are reeling under worst agriculture crisis compounded by lack of infrastructure and assures value chains to channelise farm produce.
• The project will be implemented in 10,000 villages comprising 10,000 gram panchayats which were shortlisted by state government based on multiple parameters of socio-economic backwardness in terms of development and growth.

What is the significance of this project?

• The project is a giant step towards transformation of rural economy and empowerment of farmers and also sustainable agriculture through public-private partnership (PPP) model.
• It seeks to sure higher production of crops and create robust market mechanism to enable farmers to reap higher remunerations for the yield.
• It unites agriculture-oriented corporates and farmers by providing them a common platform.

Question:

Q. Maharashtra Government has launched - State of Maharashtra's Agribusiness and Rural Transformation (SMART) Project, assisted by which insititution to transform rural Maharashtra?
a. Asian Development Bank
b. Asia Pacific Bank
c. World Bank
d. None of the above