To make farming a remunerative profession, the government today approved changes to ongoing central scheme Rashtriya Krishi Vikas Yojana (RKVY) with a focus on value chain, post-harvest infrastructure and agri- entrepreneur development, among others.

Now, the scheme has been rebranded as RKVY-Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RAFTAAR) to be implemented for three years till 2019-20 with a budget allocation of Rs 15,722 crore.

A decision in this regard was taken in the meeting of Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Narendra Modi.

CCEA has approved the continuation of RKVY as RKVY- RAFTAAR for three years, an official statement said.

The objective of the scheme is to make farming a remunerative economic activity through strengthening the farmer’s effort, risk mitigation and promoting agri-business entrepreneurship, it said.