Sources said the move was under "active consideration" of the Ministry of Information and Broadcasting and Prasar Bharati but added that a final decision was yet to be taken.
"The preparations for the launch of the DD Kisan channels are at a very advanced stage. There is a suggestion that it can be launched as the government marks its first year," a senior official said.
The source, however, said that a final decision will only be taken in consultation with the Prime Minister's Office.
In his Union Budget 2014 speech, Finance Minister Arun Jaitley, who now also holds the charge of the I&B ministry, had announced that a 24-hour TV channel will be dedicated to the agriculture sector, for which he had marked an outlay of Rs 100 crore.
Preparations for the launch of this "niche edu-tainment" channel have been on full-swing. The public broadcaster has been exploring tie-ups with several experts' bodies such as Indian Meteorological Department, National Commodity and Derivatives Exchange, Indian Agriculture Research Institute to produce programmes which provide accurate information for farmers.