MANU/RMIC/0167/2016

Ministry : Reserve Bank of India

Department/Board : Financial Inclusion and Development Department

Circular No. : FIDD.CO.LBS.BC.No.16/02.01.001/2016-2017
                   RBI/2016-2017/66

Date : 29.09.2016

The Chairman and Managing Directors
SLBC Convener Banks/ Lead Banks

Dear Sir/ Madam,

'Doubling Farmers' Income by 2022' - Measures

As you are aware, the Government of India in the Union Budget 2016-17 had announced its resolve to double the income of farmers by 2022. Several steps have been taken towards attaining this objective including setting up of an inter-ministerial committee for preparation of a blue print for the same. This agenda has also been reiterated by the government in several forums and has acquired primacy from the point of view of rural and agricultural development.

2. The strategy to achieve this goal, inter-alia, include,

• Focus on irrigation with large budgets, with the aim of "per drop, more crop"

• Provision of quality seeds and nutrients based on soil health of each field

• Investments in warehousing and cold chains to prevent post-harvest crop losses

• Promotion of value addition through food processing

• Creation of a national farm market, removing distortions and develop infrastructure such as e-platform across 585 stations

• Strengthening of crop insurance scheme to mitigate risks at affordable cost

• Promotion of ancillary activities like poultry, bee-keeping and fisheries.