Rashtriya Krishi Vikas Yojana (RKVY)

Note- The scheme was revamped as RKVY RAFTAAR (Remunerative Approaches for Agriculture and Allied Sector Rejuvenation) in 2017–18, with a focus on pre- and post-harvest infrastructure, value addition, and agripreneurship development.

Objectives of Rashtriya Krishi Vikas Yojana (RKVY)

The Rashtriya Krishi Vikas Yojana (RKVY) has a set of objectives that focus on inclusive, income-oriented, and sustainable agricultural development. Some of the top RKVY subsidy scheme objectives:

• Develop pre- and post-harvest infrastructure to improve access to inputs, storage, and markets

• Enable need-based planning and execution with greater autonomy for states

• Promote value chain-driven production to boost farm income and productivity

• Encourage diversified income activities like integrated farming, beekeeping, and floriculture

• Reduce farmers’ risk through income augmentation initiatives

• Align agricultural interventions with national priorities via targeted sub-schemes

• Empower rural youth through skill development and agri-entrepreneurship

• Foster innovation-led agribusiness models to attract youth into agriculture

Features and Benefits of RKVY Scheme

The Rashtriya Krishi Vikas Yojana is a key initiative among various government schemes for farmers that focus on improving productivity and resource utilisation. RKVY gives the freedom to states to formulate agriculture-related projects and make sure focused development through decentralised planning.

Key Components

• RKVY-RAFTAAR: Focuses on agribusiness incubation, innovation, and entrepreneurship

• Infrastructure Development: Favors storage, irrigation, and processing facilities

• Value Chain Projects: Encourage integrated agriculture from production to marketing

• State Flexibility: States choose projects according to local agricultural priorities

• Funding pattern: 60:40 (Centre:State), 90:10 for NE/Himalayan, 100% for UTs

Also read: Government life insurance

Benefits of RKVY Agriculture Scheme in India

The Rashtriya Krishi Vikas Yojana mainly focuses on uplifting the farmers and making agriculture a profitable business. Some of the RKVY benefits are -

• Funding up to Rs 25 lakh to agricultural startups

• Financial support to entrepreneurs up to Rs 5 lakh

• Government-backed financial & technical guidance for Agri-entrepreneurship

• Access to modern agricultural machinery and post-harvest infrastructure (warehousing, cold storage)

• Employment opportunities for rural youth

Eligibility Criteria of Rashtriya Krishi Vikas Yojana

Policy Rules and Conditions

• Budgets are made according to accepted project proposals.

• The projects should be in line with State and District Agriculture Plans.

• State-Level Sanctioning Committees do this through monitoring of implementation.

• The assistance is given on specified RKVY elements.

• Government guidelines must be followed in the utilisation of funds.

Application Process of Rashtriya Krishi Vikas Yojana

RKVY is much of a government initiative that does not necessitate separate applications to all elements. But there are elements that can be participated in, such as agribusiness incubation.

Mode of Application

• State agriculture portals or incubation platforms for RKVY scheme apply online

• Off-line via agricultural higher institutions or incubation facilities

Step-by-Step Process

• Identify the relevant RKVY component

• Browse to the official portal or incubation center

• Create an account using the necessary information

• Place an application/project proposal

• The authorities evaluate the application

• The chosen candidates are given support or financing

Documents Required

• Identity proof

• Project proposal or business plan

• Relevant documents as required

• Bank account details

In the case of long-term financial planning, as well as the schemes mentioned, a person can also think about the structured options, such as top savings plans, to save or invest in the future to cover financial needs.

Wrapping Up

Rashtriya Krishi Vikas Yojana is a program that encourages agricultural development by allowing states to set up need-based development projects. The scheme supports development in agriculture and other related sectors through its flexible structure and emphasis on infrastructure, innovation, and entrepreneurship, but at the same time, proper utilisation of the available resources.

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