Farm Sector Schemes
Cabinet to discuss 2 farm sector schemes worth INR 1 tln, say sources
This story was originally published at 16:57 IST on 3 October 2024
Register to read our real-time news.Informist, Thursday, Oct. 3, 2024
By Kuldeep Singh and Afra Abubacker
NEW DELHI – The Union Cabinet is expected to discuss at its meeting Thursday two schemes in the agriculture sector with an estimated total outlay of around INR 1 trillion, sources in the know told Informist. The two schemes--Rashtriya Krishi Vikas Yojana and Rashtriya Krishi Samvardhan Yojana--aim to strengthen agricultural infrastructure and subsidise production of pulses and oilseeds, the sources said.
Both schemes are listed on the agenda for the meeting that is slated to begin at 1700 IST. It was not immediately clear how many years the allocation of INR 1 trillion would be for.
The 2024-25 (Apr-Mar) Union Budget had set aside INR 75.5 billion for the Rashtriya Krishi Vikas Yojana. The scheme, launched in 2007 with a focus on developing agriculture and allied sectors by boosting pre- and post-harvest infrastructure, is likely to be renamed PM Krishi Vikas Yojana at the meeting, the sources said.
The second scheme, Rashtriya Krishi Samvardhan Yojana, will aim to incentivise cultivation of pulses and oilseeds through subsidies. This scheme may be along the lines of the Himachal Pradesh government's Mukhyamantri Krishi Samvardhan Yojana, which provides farmers subsidised high-yielding and hybrid seeds.
In her Budget speech on Jul. 23, Finance Minister Nirmala Sitharaman had said the government was formulating a strategy to achieve self-sufficiency in oilseeds and pulses. "For achieving self-sufficiency in pulses and oilseeds, we will strengthen their production, storage, and marketing," she had said. "As announced in the Interim Budget, a strategy is being put in place to achieve 'atmanirbharta' for oilseeds such as mustard, groundnut, sesame, soybean, and sunflower." End
Edited by Rajeev Pai
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