- The Cabinet Committee on Economic Affairs made two critical policy decisions last week as it approved the Pradhan Mantri Krishi Sinchai Yojana and the National Market for Agricultural Produce.
- Prime Minister Narendra Modi has discussed the importance of these decisions in kick starting the second green revolution for reviving Indian agriculture.
- For increasing agricultural incomes, it is absolutely essential to improve agricultural productivity.
- Inadequate provision of assured irrigation facilities and dependence on rain for crop irrigation remains a major challenge for Indian agriculture.
- The scheme aims at bringing a convergence of investments in multiple dimensions of crop irrigation.
- The cabinet press release specifies that a funding of Rs. 50,000 crores has been approved for the scheme.