The RKVY aims at achieving the 4 per cent annual growth in the agriculture sector during the Eleventh Five Year Plan period by ensuring a holistic development of agriculture and allied sectors.
The RKVY will be a State Plan Scheme and the eligibility for assistance under the scheme would depend upon the amount provided in the State budgets for agriculture and allied sectors, over and above the baseline percentage expenditure incurred on agriculture and allied sectors. The funds under the RKVY would be provided to the States as 100 per cent grant by the Central Government. The main objectives of the scheme are:
1. To incentivise the States to increase public investment in agriculture and allied sectors.
ADVERTISEMENTS:
2. To provide flexibility and autonomy to the States in planning and executing agriculture and allied sectors schemes.
3. To ensure the preparation of plants for the districts and the States based on agro-climatic conditions, availability of technology and natural resources.
4. To ensure that the local needs/crops/priorities are better reflected.
ADVERTISEMENTS:
5. To achieve the goal of reducing the yield gaps in important crops, through focused interventions.
6. To maximize returns to the farmers. Price Stabilization Fund Scheme (PSFS)
Image Source: cdn.yourarticlelibrary.com
The PSFS for tea, coffee, and rubber and tobacco growers was launched in April 2003 against the backdrop of decline in unit value realization of these commodities, at times falling below their cost of production.
The objective of PSFS was to safeguard the interests of growers and provide financial relief when prices fall below a specified level without resorting to the practice of procurement operations by the Government agencies.