Cabinet approves Remunerative Approaches for RKVY (Agricultural Scheme)

TNPSC Current Affairs - November 2017 by TNPSC Guru

Union Cabinet has approved the extension of Rashtriya Krishi Vikas Yojana  by renaming Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR) for 3 years.

The main aim is to strengthen the farmers effort, risk mitigation and promoting agri-business . The financial allocation for the scheme is Rs 15,722 crore.

About RKVY-RAFTAAR:

As per the RKVY-RAFTAAR scheme funds will be provided as 60:40 ratio between Centre and state. For North Easter States and Himalayan states it would be 90:10 ration between Centre and State.

50% Funds will be allocated to Infrastructure and assets, 30 % of funds to Value addition linked production projects and 20% of outlay will be flexi-funds(which can use by state for local needs)

About RKVY:

Rashtriya Krishi Vikas Yojana (RKVY) is implemented in XI^th five year plan with the aim to provide flexibility and autonomy to states in planning and executing programmes for incentivizing investment in agriculture and similar sectors

RKVY has also helps to adopt national priorities like Green Revolution to Eastern India , Crop Diversification Program , Reclamation of Problem Soil , Foot & Mouth Disease - Control Program, etc without affecting states flexibility and autonomy.

As per the interim report of RKVY, agricultural state domestic product (AGSDP) is higher than the pre-RKVY in the country. so continuation of RKVY-RAFTAAR will keep the momentum of agriculture and similar sectors.