Rashtriya Krishi Vikas Yojana (RKVY)

What is Rashtriya Krishi Vikas Yojana?

The Rashtriya Krishi Vikas Yojana was introduced with an aim to provide support to the agricultural sector in achieving 4% annual agriculture growth. RKVY scheme was launched in the year 2007 which was later rebranded as Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RAFTAAR) to be implemented for three years till 2019-20 with a budget allocation of Rs 15,722 crore. In a meeting held on 29th May 2007, the National Development Council (NDC), resolved the idea of launching a Central Assistance Scheme (RKVY) concerned by the slow growth in the Agriculture and allied sectors. The NDC also aimed at the reorientation of the agricultural development strategies in order to meet the needs of farmers. The scheme provided considerable flexibility and autonomy to States in planning and executing programmes for incentivising investment in agriculture and allied sectors.

The scheme facilitated decentralized planning in the agricultural sector through the initiation of the State Agriculture Plan (SAP) and District Agriculture Plans (DAPs). The scheme was based on the agro-climatic conditions ensuring the availability of appropriate technology and natural resources thus providing accommodation for the local needs.

Rashtriya Krishi Vikas Yojana (RKVY) is an important topic for the IAS Exam. Candidates can download the notes PDF at the end of the article.

Objectives of 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.

Latest Updates on RKVY RAFTAAR

Ministry of Agriculture funding start-ups under the innovation and agri-entrepreneurship component of Rashtriya Krishi Vikas Yojana in 2020-21.

In addition to 112 startups already funded for a sum of Rs. 1185.90 lakhs, 234 startups in the agriculture and allied sectors will be funded for a sum of Rs. 2485.85 lakhs.

A component, the Innovation and Agri-entrepreneurship Development programme has been launched under Rashtriya Krishi Vikas Yojana in order to promote innovation and agri-entrepreneurship 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.

The following are the components of this scheme:

  1. Agripreneurship Orientation – 2 months duration with a monthly stipend of Rs.  10,000/- per month.  Mentorship is provided on financial, technical, IP issues etc.
  2. Seed Stage Funding of R-ABI Incubatees – Funding upto Rs. 25 lakhs (85% grant & 15% contribution from the incubatee).
  3. Idea/Pre-Seed Stage Funding of Agripreneurs – Funding up to Rs. 5 lakhs (90% grant and 10% contribution from the incubatee).

Significance of RKVY Scheme

The Rashtriya Krishi Vikas Yojana scheme is responsible for planning and executing programs for incentivizing investment in agriculture by providing the states considerable flexibility and autonomy. This scheme became successful in increasing the agricultural state domestic product and promoting agri-entrepreneurship.

Some of the useful significances of the RKVY Scheme are as follows:

  1. Incentivising all the states of India in enhancing more allocation to agricultural and allied sectors.
  2. RKVY helps in creating the post-harvest infrastructure required for the growth of agriculture along with strengthening the efforts of the farmers by providing market facilities.
  3. It will help in the promotion of private investment in the farm sector across the nation.

Some of the major sub-schemes that are implemented under RKVY-Raftaar are Accelerated Fodder Development Programme (AFDP), Saffron Mission, Crop Diversification Programme (CDP), etc.

The RKVY – Raftaar covers all the major sectors of the country which include:

  • Crop Cultivation and Horticulture
  • Animal Husbandry and Fisheries
  • Dairy Development, Agricultural Research and Education
  • Forestry and Wildlife
  • Plantation and Agricultural Marketing
  • Food Storage and Warehousing
  • Soil and Water Conservation
  • Agricultural Financial Institutions, other Agricultural Programmes and Cooperation.

Rashtriya Krishi Vikas Yojana (RKVY):- Download PDF Here

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