HomeNewsBusinessEconomyCabinet rationalizes all farm sector schemes under 2 umbrella schemes with Rs 1.01 lakh cr investment

Cabinet rationalizes all farm sector schemes under 2 umbrella schemes with Rs 1.01 lakh cr investment

While PM Rashtriya Krishi Vikas Yojana will promote sustainable agriculture, Krishonnati Yojana will address food security for self-sufficiency

October 03, 2024 / 22:22 IST
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Cabinet approves 2 agriculture sector schemes with total investment of Rs 1.01 lakh crore
Cabinet approves 2 agriculture sector schemes with total investment of Rs 1.01 lakh crore

The Union Cabinet on October 3 approved a proposal to rationalize all Centrally Sponsored Schemes (CSS) operating under Ministry of Agriculture and Farmer’s into two-umbrella schemes, with total investment of Rs 1,01,321 crore, aimed to increase farmers’ income and food security.

The two schemes are PM Rashtriya Krishi Vikas Yojana (PM-RKVY) that will promote sustainable agriculture and Krishonnati Yojana (KY), which will achieve food security for self-sufficiency, said Minister of Information and Broadcasting Ashwini Vaishnaw.

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"All components shall leverage technology to ensure efficient and effective implementation of the various components. These Schemes are implemented through the State Governments," according to a government statement.

Under PM-RKVY, states have been given flexibility to reallocate funds from one component to another based on their specific requirement, the statement added.