Government to Fund 112 Agritech Startups says Union Minister
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To promote Agriculture startups in India, Union Minister for Agriculture Narendra Singh Tomar said “the Indian government will fund 112 startups in the first phase, with a sum of Rs 11.85 crore in the current financial year.”
The funds will be provided under the Innovation and Agri-entrepreneurship Development Programme launched under the revamped Rashtriya Krishi Vikas Yojana (RKVY). These startups will lead to employment opportunities for youth. Besides, directly and indirectly, they will contribute to enhancing the income of farmers by providing opportunities to them, he added.
Emphasizing on increasing private investment in agriculture, Tomar said his vision is to attract the youth to agriculture and rejuvenate the sector. He also stressed the need to make agriculture competitive, provide handholding to agriculture-based activities, and adopt new technology at the earliest to boost productivity.