Mukhyamantri Krushi Udyog Yojana norms modified to stimulate agri funding
In a bid to facilitate the growth of agriculture entreprenuership, the state government has introduced some changes in guidelines of Mukhyamantri Krushi Udyog Yojana (MKUY).
BHUBANESWAR: In a bid to facilitate the growth of agriculture entreprenuership, the state government has introduced some changes in guidelines of Mukhyamantri Krushi Udyog Yojana (MKUY).
Under the revised guidelines, agri-entrepreneurs can now apply for fresh capital investment subsidy (CIS) for both new projects and expansion or upgradation of existing ventures after a period of 10 years from the date of availing full limit of capital subsidy.
In a bid to encourage self-reliance and financial independence among agri-entrepreneurs, the revised guidelines now permit self-financed projects exceeding Rs 10 lakh to be included under MKUY.
The guidelines have been modified to enable agri-entrepreneurs whose land records are not available in ‘Bhulekh’ due to unsurveyed village, apply for various benefits under the scheme.
To encourage entrepreneurs to embark on ambitious agricultural ventures, the maximum limit of CIS has been raised from Rs 50 lakh to Rs 1 crore per family. The guidelines have also been modified to allow entrepreneurs to set up projects up to Rs 50 crore which was earlier limited to Rs 20 crore.
In a step towards inclusivity, the revised guidelines now extend eligibility for the CIS to transgenders who can now avail subsidy benefit of 50 per cent under the scheme. Inclusion of sericulture-related activities under the scheme has been approved as the government aims at encouraging entrepreneurship in sericulture and harness its potential for economic growth and employment generation.