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Prime Minister Dhan-Dhaanya Krishi Yojana Launched

Why in the news?

Finance Minister Nirmala Sitharaman introduced the Prime Minister Dhan-Dhaanya Krishi Yojana (PMDKY), aimed at improving agricultural productivity, crop diversification, and credit facilities in 100 districts. The scheme is inspired by the Aspirational Districts Programme.

Scheme’s Launch and Background:

• Finance Minister Nirmala Sitharaman announced the launch of the Prime Minister Dhan-Dhaanya Krishi Yojana (PMDKY) on February 1 during the Union Budget.
• The scheme draws inspiration from the success of the Aspirational Districts Programme (ADP), which was launched in January 2018 to uplift the most underdeveloped districts through convergence, collaboration, and competition.
• ADP focused on 49 Key Performance Indicators across sectors like Health, Education, Agriculture, Financial Inclusion, and Infrastructure.

Key Features and District Selection:

• PMDKY will cover 100 districts based on three key criteria: low productivity, moderate crop intensity, and below-average credit parameters.
• The Ministry of Agriculture and Farmers’ Welfare is collecting data on these parameters to identify the eligible districts.
• Crop intensity measures the efficiency of land use, with an increase in crop cycles per land area. In 2021-22, national crop intensity was 155%.

Objectives and Allocation of Prime Minister Dhan-Dhaanya Krishi Yojana (PMDKY):

• PMDKY aims to:
• Enhance agricultural productivity.
• Promote crop diversification and sustainable practices.
• Increase post-harvest storage at the panchayat and block levels.
• Improve irrigation facilities.
• Facilitate both short-term and long-term credit access for farmers.
• The scheme is expected to benefit around 17 crore farmers.
• While specific funding details have not been disclosed, funds will come from existing agriculture-related schemes, with a formal allocation expected after Cabinet approval.