RKVY scheme was initiated in 2007 as an umbrella scheme for ensuring holistic development of agriculture and allied sectors. The scheme has come a long way since its inception and has been implemented across two plan periods (11th and 12th). The scheme incentivize States to increase public investment in Agriculture & allied sectors. The Cabinet has approved ( as on 1st November 2017) for continuation of the ongoing Centrally Sponsored Scheme (State Plans) - Rashtriya Krishi Vikas Yojana (RKVY) as Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied Sector Rejuvenation (RKVY-RAFTAAR) for three years i.e. 2017-18 to 2019-20 with a financial allocation of Rs. 15,722 crores with broad objectives of making farming a remunerative economic activity through strengthening the farmer’s effort, risk mitigation and promoting agri-business entrepreneurship.
