Rashtriya Krishi Vikas Yojana renamed RKVY-RAFTAAR, gets 3 years extension.

New Delhi Nov 2: The union cabinet chaired by PM Modi on Wednesday has taken some decesions. The government has approved the continuation of Rashtriya Krishi Vikas Yojana (RKVY) for three years — 2017-18 to 2019-20 and renamed the scheme as Rashtriya Krishi Vikas Yojana-Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR).

Under this scheme States to would be incentivized to increase allocations for agriculture and allied sectors.

"The financial allocation of the scheme will be Rs 15,722 crore with the objective of making farming a remunerative economic activity through strengthening the farmer’s effort, risk mitigation and promoting agri-business entrepreneurship," an official release said.



"The RKVY-RAFTAAR funds would be provided to States as 60:40 grants between Centre and States (90:10 for the North-Eastern States and the Himalayan States). the release added".

Under the revamped scheme about

# 50 percent of the annual outlay will be provided for setting up infrastructure and assets.

# 30 percent for value addition-linked production projects

# 20 percent of the outlay will be flexi-funds.

"States can use this (flexi-funds) for supporting projects as per the local needs,” the release added.

"In addition, about 20 percent of the annual outlay would be provided for implementing special sub-schemes of national priorities under RKVY-RAFTAAR. Also, 10 per cent of the annual outlay would be provided for innovation and agri-entrepreneur development through creating end-to-end solution, skill development and financial support for setting up the agri-enterprise."