Rashtriya Krishi Vikas Yojana:

Rashtriya Krishi Vikas Yojana:

• Ministry of Agriculture funding start-ups under the innovation and agripreneurship component of Rashtriya Krishi Vikas Yojana in 2020-21.
• A component, Innovation and Agri-entrepreneurship Development program has been launched under Rashtriya Krishi Vikas Yojana 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 mechanization, waste to wealth, dairy, fisheries, etc.
• Agripreneurship Orientation – 2 months duration with a monthly stipend of Rs.  10,000/- per month.  Mentorship is provided on financial, technical, IP issues, etc.
• Seed Stage Funding of R-ABI Incubatees – Funding upto Rs. 25 lakhs (85% grant & 15% contribution from the incubatee).
• Idea/Pre-Seed Stage Funding of Agripreneurs – Funding up to Rs. 5 lakhs (90% grant and 10% contribution from the incubatee).
• RKVY-RAFTAAR will continue to be implemented as a Centrally Sponsored Scheme in the ratio of 60: 40 (Government of India and State Share respectively) except in the case of northeastern and hilly states where the sharing pattern is 90:10. For UTs the grant is 100% as Central share.

About Rashtriya Krishi Vikas Yojana:

• RKVY scheme 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.
• The Cabinet has approved (as on 1st November 2017) for the continuation of the ongoing Centrally Sponsored Scheme (State Plans) – Rashtriya Krishi Vikas Yojana (RKVY) as Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied Sector Rejuvenation (RKVY-RAFTAAR).

The main objective of Rashtriya Krishi Vikas Yojana is to develop farming as the 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.

Source: PIB