Karnataka receives INR 235 Crore as third installment under RKVY Scheme

Central government approves procurement of Bengal Gram

NEW DELHI, 28 February 2024: In a move aimed at bolstering the agricultural sector in Karnataka, the Department of Agriculture and Farmers Welfare (DAFW) has released Rs. 235.14 crore to the state government as the third installment under the Rashtriya Krishi Vikas Yojana (RKVY) scheme for the financial year 2023-24.

Increased Allocation Supports Diverse Initiatives

This latest tranche forms part of a total allocation of INR 761.89 crore sanctioned for Karnataka under RKVY in 2023-24. This amount reflects an increase from the initial allocation of INR 583.24 crore, with an additional INR 178.65 crore approved in January 2024.

Funds Directed Towards Infrastructure Development and Sustainable Practices

The released funds will be used by the Karnataka government to implement various initiatives under the RKVY scheme, encompassing:

• Infrastructure improvement: Construction of godowns, water harvesting structures, and establishment of primary demonstration units.
• Agricultural mechanization: Procurement of tractors, power tillers, and drones.
• Promotion of sustainable practices: Integrated farming, soil health improvement, and setting up of custom hiring centers.

Focus on Soil Health and Mechanization

The recent additional allocation specifically targeted crucial aspects of agricultural development, with INR 120 crore allocated for Sub Mission on Agriculture Mechanization (SMAM) and INR 12 crore for Soil Health Cards.

Central Government Committed to Supporting Karnataka's Farmers

So far, the central government has released a total of INR 526.75 crore under RKVY to Karnataka. The remaining balance will be disbursed upon utilization of the already released amount, demonstrating the central government's ongoing commitment to supporting the welfare of farmers in the state.

Approval for Procurement of Bengal Gram at MSP

In a further positive development for Karnataka's farmers, the Minister of State for Agriculture and Farmers Welfare has also approved the procurement of Bengal Gram (Channa) under the Price Support Scheme (PSS) at a Minimum Support Price (MSP) of Rs. 5440 per quintal for a maximum quantity of 1,39,740 MTs for the Rabi 2023-24 season. This measure aims to ensure fair returns to farmers for their produce.

Overall, the release of funds under RKVY and the approval for Bengal Gram procurement signify the central government's comprehensive approach to supporting agricultural development and ensuring the well-being of farmers in Karnataka.