Cabinet Committee on Economic Affairs has approved the continuation of Rashtriya Krishi Vikas Yojana as Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied sector Rejuvenation, RKVY-RAFTAAR for three years to 2019-20. The financial allocation of the scheme will be 15,722 crore rupees with the objective of making farming a remunerative economic activity through strengthening the farmer's efforts, risk mitigation and promoting agri 'business entrepreneurship.<br/><br/>The funds would be provided to the states as 60:40 grants between Centre and States and 90:10 for North Eastern states and Himalayan states.<br/><br/>The scheme will incentivize states in enhancing more allocation to Agriculture and Allied Sectors. This will also strengthen farmer's efforts through creation of agriculture infrastructure that help in supply of quality inputs and market facilities. This will further promote agri-entrepreneurship and support business models that maximize returns to farmers.<br/><br/>Rashtriya Krishi Vikas Yojana is a continuing scheme under implementation from Eleventh Five Year Plan. It provides considerable flexibility and autonomy to states in planning and executing programmes for incentivizing investment in agriculture and allied sectors. States initiate the process of decentralized planning for agriculture and allied sectors through preparation of District Agriculture Plans and State Agriculture Plan based on agro-climatic conditions, availability of appropriate technology and natural resources to ensure accommodation of local needs, cropping pattern and priorities.