Agri startups jump manifold to more than 7,000 in last 9 yrs
Before 2014-15, there were less than 50 startups in agriculture and allied sectors: Report
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The number of startups in agriculture and allied sectors has risen to over 7,000 in the last nine years due to a conducive business environment and government support, a report said.
Before 2014-15, there were less than 50 startups in agriculture and allied sectors, according to a report titled 'Transformation of India's Agriculture' released by the Federation of All India Farmer Associations (FAIFA) on Wednesday. The Department of Agriculture & Farmers' Welfare (DA&FW) is implementing the 'Innovation and Agri-Entrepreneurship Development' programme under Rashtriya Krishi Vikas Yojana (RKVY) from 2018-19 to promote innovation and agri-entrepreneurship by providing financial support and nurturing an incubation ecosystem. Five Knowledge Partners (KPs) and 24 RKVY- Agribusiness Incubators (R-ABIs) have been appointed by the Department for incubation of startups and implementation of this programme across the country during 2018-19, which is sufficient to cater to current requirements.
The report commended the government's decade-long efforts, acknowledging a comprehensive approach that has borne fruit. From initiatives supporting farmers' income, agricultural insurance schemes and expanded irrigation coverage to promoting organic farming, empowering women farmers, bolstering infrastructure and digitising services, the government has embraced a holistic strategy in championing the cause of the farmers, it said. During the nine years, there has been a 300 per cent jump in budget allocation for agriculture. It has gone up from Rs 30,000 crore to Rs 1.3 lakh crore.
"The strides made by the government in the agriculture sector and for farmers are commendable. Efforts are being tirelessly invested in augmenting farmer income and ensuring their security," aiding our invaluable 'Annadata' in feeding our nation and the world too, FAIFA president Javare Gowda said. Key policy initiatives like the Pradhan Mantri Kisan Maandhan Yojana (PM-KMY), Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) and Pradhan Mantri Fasal Bima Yojana (PMFBY) have played pivotal roles in extending financial and income support to farmers,
he said.
