Allocation for RKVY stands at Rs 63246 crore with focus on improving production growth and agri infra
The Cabinet Committee on Economic Affairs (CCEA) has approved the continuation of the ongoing state Plan Scheme of Rashtriya Krishi Vikas Yojana (RKVY) in the Twelfth Plan (2012-13 to 2016-17) with an outlay of Rs 63246 crore.The allocation of funds is made as follows:
(a) 35% annual outlay for projects and interventions to raise production and productivity in agriculture and allied sectors.
(b) RKVY Infrastructure and Assets with 35% outlay for filling gaps in agricultural infrastructure in States.
(c) RKVY Special Schemes with 20% outlay for funding focused national priorities as notified by the Government of India from time to time.
(d) 10% as RKVY flexi fund for State specific needs/priorities.
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One of the basic objectives of RKVY is to incentivize investments in agriculture and allied sectors by linking state wise allocation of RKVY funds to the increased share of State plan expenditure in agriculture and allied sectors. This has helped in stepping up allocation to agriculture and allied sectors as a percentage of total State Plan expenditure from 4.88% in 2006-07 to 6.04% in 2011-12 (RE) and 6.33% during 2012-13(BE).
The agriculture and allied sectors grew at 3.64% annually during the Eleventh Plan as against 2.46% per annum in the Tenth Plan.
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