Cabinet approved continuation of Rashtriya Krishi Vikas Yojana

Cabinet approves ongoing Centrally Sponsored Rashtriya Krishi Vikas Yojana

Question: For how much years Cabinet Committee on Economic Affairs has approved the continuation of Rashtriya Krishi Vikas Yojana (RKVY) as Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR)?
(a) Two year
(b) Three years
(c) Five Years
(d) One years
Answer: (b)
Related Facts:

  • On November 1st, 2017, the Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi, has approved the continuation of Rashtriya Krishi Vikas Yojana (RKVY) as Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR).
  • This continuation will be for three years i.e. 2017-18 to 2019-20.
  • The financial allocation of the scheme will be Rs. 15,722 crore with the objective of making farming as a remunerative economic activity through strengthening the farmer’s effort, risk mitigation and promoting agri¬business entrepreneurship.
  • This will also strengthen farmer’s efforts through creation of agriculture infrastructure that help in supply of quality inputs, market facilities etc.
  • This will further promote agri-entrepreneurship and support business models that maximize returns to farmers.
  • RKVY-RAFTAAR funds would be provided to the States as 60:40 grants between Centre and States, as:
    A. Regular RKVY-RAFTAAR (Infrastructure & Assets and Production Growth) with 70% of annual outlay to be allocated to states as grants based for the following activities:
  • Infrastructure and assets with 50% of regular RKVY-RAFTAAR outlay.
  • Value addition linked production projects with 30% of regular RKVY-RAFTAAR outlay.
  • Flexi-funds with 20% of regular RKVY-RAFTAAR outlay. States can use this for supporting any projects as per the local needs.
  • B. RKVY-RAFTAAR special sub-schemes of National priorities – 20% of annual outlay;
  • C. Innovation and agri-entrepreneur development through creating end-to-end solution, skill development and financial support for setting up the agri-enterprise -10% of annual outlay including 2% of administrative costs.
  • It is noteworthy that Rashtriya Krishi Vikas Yojana (RKVY) is a continuing scheme under implementation from XI Five Year Plan.

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=173139