Cabinet Briefing: PM Rashtriya Krishi Vikas Yojana approved with total proposed expenditure of Rs 1 lakh cr

The Cabinet on Thursday approved the PM Rashtriya Krishi Vikas Yojana (PM-RKVY), which aims to promote sustainable agriculture and Krishonnati Yojana (KY) to achieve food security for self sufficiency with combined total proposed expenditure of Rs 1 lakh crore. During the Cabinet briefing, union minister Ashwini Vaishnaw said the two schemes will promote agricultural mechanisation including crop residue management and accelerator fund for agri startups.

He said the agri schemes will focus on emergent challenges in the agricultural landscape including climate resilience, value chain development, and startups.

During the July Budget, the government made a commitment to enhance agricultural productivity as a top priority for farmers. In Budget 2024-25, Union Finance Minister Nirmala Sitharaman allocated Rs 1.52 lakh crore to agriculture and allied activities, an increase from Rs 1.40 lakh crore in the previous fiscal year.

The 2024-25 Union Budget has allocated Rs 7,550 crore for the Rashtriya Krishi Vikas Yojana, a scheme that was launched in 2007 to improve agriculture and allied sectors by enhancing pre- and post-harvest infrastructure. It is anticipated that the scheme will be renamed as PM Krishi Vikas Yojana in the upcoming meeting.

The scheme gives priority to initiatives such as 'Paramparagat Krishi Vikas Yojana' for organic farming, Per Drop More Crop, and the Accelerator Fund for Agri Start-ups. The minister highlighted that these schemes aim to improve the value chain and incorporate technology.

Krishonnati Yojana, a complementary scheme, supports overall agricultural development through programs like the National Food Security and Nutrition Mission, Mission for Integrated Development of Horticulture, and Sub-Mission on Agriculture Extension.

PM- Rashtriya Krishi Vikas Yojana

1. Soil Health and Fertility
2. Rainfed Area Development
3. Paramparagat Krishi Vikas Yojana
4. Agricultural Mechanization including Crop Residue
Management
5. Per Drop More Crop including MIF
6. Agro-Forestry
7. Crop Diversification Programme
8. RKVY DPR component
9. Accelerator Fund for Agri Start-ups

Krishonnati Yojana
1. National Food Security and Nutrition Mission
2. National Mission on Edible Oils - Oilpalm
3. National Mission on Edible Oils - Oilseed
4. Mission for Integrated Development of Horticulture
5. Sub-Mission on Agriculture Extension
6. Mission Organic Value Chain Development for NER
7. Integrated Scheme for Agricultural Marketing
8. Digital Agriculture Mission
9. Integrated Scheme on Agriculture Census, Economics
and Statistics.

The scheme also aims to boost oil production with the National Mission on Edible Oils and promote modern farming techniques through the Digital Agriculture Mission.

To achieve self-sufficiency in oilseed production, the Cabinet has approved the National Mission on Edible Oils – Oilseeds (NMEO-Oilseeds) which will span seven years. The government has earmarked Rs 10,103 crore for this initiative.

Chennai metro Phase-2

The Union Cabinet on Thursday approved the phase two of Chennai Metro with a project cost of Rs 63,246 crore. The new phase will cover three corridors with a length of 119 km and also add a capacity of 13 lakh passengers every day. This project will be implemented by both state and central government in a 50:50 venture, the minister said. The project will be implemented by both state and central government in a 50:50 venture, Union Minister Ashwini Vaishanaw.

• Population: 1.26 Cr in 2026 and 1.80 Cr in 2048
• Comprehensive Mobility Plan (2018) for Chennai Metropolitan
• Area identified the three potential Mass Transit Corridors
• Chennai Metro Rail Project Phase 2 covering length of 119 km
• Total Completion Cost is ₹ 63,246 crore
• 3 Corridors – Partially Underground/Elevated – 120 Stations
• Implemented by Chennai Metro Rail Ltd (CMRL) the existing SPV with 50:50 share of Govt of India and Govt of TN

• 3 New Corridors
• Madhavaram to SIPCOT
• Lighthouse to Poonamallee Bypass
• Madhavaram to Sholinganallur
• Total Length of Corridor – 119 km
• Elevated 64%
• Underground 36%
• Stations – 128*
• Elevated – 80
• Underground – 48