The PM Rashtriya Krishi Vikas Yojana (PM-RKVY) is a Centrally Sponsored umbrella scheme of the Department of Agriculture and Farmers Welfare. It funds state-specific agricultural interventions aimed at sustainable, climate-resilient farming.
Basic Details
- Ministry: Ministry of Agriculture and Farmers Welfare, Department of Agriculture and Farmers Welfare.
- Approved: 3 October 2024, by the Union Cabinet, alongside Krishonnati Yojana (KY).
- Type of Scheme: Centrally Sponsored Scheme, cafeteria-style.
- Financial Outlay: ₹57,074.72 crore.
- Implemented through: State Governments.
Aim and Objectives
- To promote sustainable agriculture through climate-resilient practices, better soil health, and efficient water use.
- To give states the flexibility to design agricultural strategies suited to their own regional needs, rather than following one central template.
Key Features
- Cafeteria Approach: States can choose and re-allocate funds among PM-RKVY's components based on their own priorities.
- Nine Components: Soil Health Management, Rainfed Area Development, Agro Forestry, Paramparagat Krishi Vikas Yojana (organic farming), Agricultural Mechanization and Crop Residue Management, Per Drop More Crop, Crop Diversification Programme, the RKVY DPR component, and the Accelerator Fund for Agri Startups.
- Mother Sanction Mechanism: States receive funds in instalments against a first "Mother Sanction," and further releases depend on how much of that earlier sanction they have already utilised.
Significance
- State-Led Flexibility: Its cafeteria design lets each state target its own agro-climatic challenges instead of following a uniform central approach.
- Startup Push: The Accelerator Fund for Agri Startups is one of the few components aimed at building an agri-tech and agri-business ecosystem alongside direct farm interventions.