Rashtriya Krishi Vikas Yojana (RKVY) was initiated in 2007 as an umbrella scheme for ensuring holistic development of agriculture and allied sectors.
The scheme incentivizes States to increase public investment in Agriculture & allied sectors.
In 2017, the government renamed RKVY as Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR).
Objectives of RKVY RAFTAAR
The main objective of Rashtriya Krishi Vikas Yojana is to develop farming as a main source of economic activity. Some of the objectives also include:
- Risk mitigation, strengthening the efforts of the farmers along with promoting agri-business entrepreneurship through the creation of agri-infrastructure.
- Providing all the states with autonomy and flexibility in making plans as per their local needs.
- Helping farmers in increasing their income by encouraging productivity and promoting value chain addition linked production models.
- To reduce the risk of farmers by focusing on increasing the income generation through mushroom cultivation, integrated farming, floriculture, etc.
- Empowering the youth through various skill development, innovation and agri-business models.
RKVY-RAFTAAR funds would be provided to the States as 60:40 grants between Centre and States (90:10 for North Eastern States and Himalayan States).
Why in News?
- Innovation and Agri-entrepreneurship Development programme has been launched as a component under RKVY-RAFTAAR to promote innovation and agripreneurship by providing financial support and nurturing the incubation ecosystem.
- These start-ups are in various categories such as agro-processing, artificial intelligence, digital agriculture, farm mechanisation, waste to wealth, dairy, fisheries, etc.