India's Ambitious Agricultural Overhaul: PM-RKVY and Krishonnati Yojana Greenlit

The Union Cabinet, led by PM Modi, approved the PM Rashtriya Krishi Vikas Yojana and Krishonnati Yojana, aiming to fortify food security and promote sustainable agriculture with over Rs 1 lakh crore funding. These schemes will harmonize existing programs and prioritize technology-driven solutions for agricultural advancements.

In a significant move, the Union Cabinet under the leadership of Prime Minister Narendra Modi has sanctioned the PM Rashtriya Krishi Vikas Yojana (PM-RKVY) and the Krishonnati Yojana (KY) to bolster food security and sustainable agriculture. The initiatives, with a budget surpassing Rs 1 lakh crore, signify a strategic overhaul to enhance agricultural productivity through technological advancement.

These newly rationalized schemes aim to consolidate existing Centrally Sponsored Schemes (CSS) into two main umbrellas, focusing on sustainable practices and food security. The PM-RKVY is designed to advance sustainable agriculture, while the KY prioritizes self-sufficiency in food production, leveraging technology to maximize the impact and efficiency of these initiatives.

The restructuring allows state governments more flexibility in strategizing for their agricultural sectors by crafting a Comprehensive Strategic Document. This approach addresses issues such as Climate Resilient Agriculture, value chain development, and nutrition security. The overarching strategy aims to avoid redundancy, ensure convergence, and provide a platform for private sector participation to tackle emerging agricultural challenges.

(With inputs from agencies.)