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UP Govt Plans to Double Farmers income under ‘Panchamrut Yojana’

 UP Govt Plans to Double Farmers income under ‘Panchamrut Yojana’


The Union Ministry of Agriculture and Farmers Welfare has announced that it is planning to double the farmers' income under the 'Panchamrut Yojana' by 2022. The scheme, launched in January this year, aims to provide financial assistance to Indian farmers in the form of crop loans, foodgrain subsidies and insurance cover.


UP Govt Plans to Double Farmers income under ‘Panchamrut Yojana’


The Uttar Pradesh government has announced plans to double the farmers’ income under the ‘Panchamrut Yojana’. The scheme, launched in January this year, aims to provide irrigation facilities and other support services to farmers in the state. As part of the scheme, the government has also promised to provide crop insurance coverage and other benefits.


The scheme is expected to benefit around 1.5 million farmers in Uttar Pradesh.


The Panchamrut Yojana


The Union government is all set to double farmers incomes under the 'Panchamrut Yojana' in the next five years. The programme, which was launched in January this year, envisages an investment of Rs 2.5 lakh crore over the next five years in irrigation and agriculture sectors.


The objective of the scheme is to provide assured irrigation water to 1.25 crore hectares of land in agricultural areas and increase crop production by 20%. The scheme will also boost milk production and improve livestock productivity.


Under the scheme, a farmer will be entitled to receive Rs 6,000 per acre as investment assistance for irrigation infrastructure development, soil and water conservation measures and crop productivity enhancement activities. The government will also provide insurance coverage up to Rs 1 lakh per acre for risks related to natural disasters like floods and earthquakes.


How will the scheme work?


Under the 'Panchamrut Yojana' announced by the Uttar Pradesh government, farmers will be paid a sum of Rs 4,000 per acre under a crop insurance scheme. The scheme will also provide them with credit facilities of up to Rs 1 lakh. The aim is to double farmers' incomes by 2022.

The 'Panchamrut Yojana' was announced by chief minister Yogi Adityanath during his visit to Rajasthan on October 5. He said that the state would provide Rs 2,500 crore annually under the scheme over the next five years.

The scheme will cover wheat, rice, maize and soybean crops. Farmers who produce these crops will be eligible for subsidy payments and insurance coverage. Adityanath said that the state would also provide credit assistance of up to Rs 1 lakh to farmers under the scheme.


Who will benefit from it?


The Uttar Pradesh government has announced a plan to double farmers’ incomes under the ‘Panchamrut Yojana’. The scheme, which was launched in March this year, will provide loans and insurance cover to farmers. The state government has also announced a bonus of Rs 1,000 per acre for those farmers who adopt drip irrigation and other advanced farming practices.


The scheme will benefit about 18 crore farmers in Uttar Pradesh. The state government has also created a corpus of Rs 43,000 crore to finance the scheme. The Union Agriculture Ministry has approved the proposal to fund the scheme through the Pradhan Mantri Fasal Bima Yojana (PMFBY).


When will the scheme start?


The Union government has announced a new scheme-Panchamrut Yojana-to double farmers income. The scheme will be implemented in three phases and it is expected to start from January 1, 2017. The first phase will provide an initial income of Rs 5,000 to the farmers ...


The Union government has announced a new scheme-Panchamrut Yojana-to double farmers income. The scheme will be implemented in three phases and it is expected to start from January 1, 2017. The first phase will provide an initial income of Rs 5,000 to the farmers who have an acreage of less than 2 hectares. The second phase will provide an additional Rs 3,000 to the farmers who have an acreage of between 2 and 10 hectares. The third and final phase will provide an additional Rs 2,000 to the farmers who have an acreage of more than 10 hectares.

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