Bhubaneswar: In a significant move to boost Agricultural Entrepreneurship and facilitate the growth of Agri-entrepreneurs, the Odisha government has introduced several modifications to the existing guidelines of the Mukhyamantri Krushi Udyog Yojana (MKUY).
These changes aim at providing greater support to Agri-entrepreneurs through enhanced subsidies, expanded eligibility criteria, and inclusion of additional sectors.
As per direction of the Chief Minister Naveen Patnaik, changes have been made in MKUY guidelines and it will enhance the opportunities for Agri-entrepreneurs for setting up new enterprises in the State, said Ranendra Pratap Swain, Minister, Agriculture, and Farmers’ Empowerment, Fisheries and ARD.
Under the revised guidelines, Agri-entrepreneurs can now apply for the Fresh Capital Investment Subsidy (CIS) for both new projects and expansion or upgradation of existing ventures after a period of 10 years from the date of availing full limit of CIS (Capital Investment Subsidy)
In a bid to encourage self-reliance and financial independence among agri-entrepreneurs, the revised guidelines now permit applicants for self-financed projects exceeding 10 lakhs.
The MKUY guidelines have been modified to enable agri-entrepreneurs whose land records are not available in the Bhulekh due to unsurveyed village to apply for various benefits under the scheme.
To further empower Agri-entrepreneurs and facilitate larger-scale projects, the maximum limit for the Capital Investment Subsidy (CIS) has been raised from 50 lakh to an impressive 1 crore per family.
This substantial increase in the subsidy cap opens up new avenues for entrepreneurs to embark on ambitious agricultural ventures.
To encourage large-scale Agri-enterprises, the MKUY guidelines have also been modified to allow entrepreneurs for projects up to Rs 50 crore which was earlier only Rs 20 crore.
In a progressive step towards inclusivity, the revised MKUY guidelines now extend eligibility for the Capital Investment Subsidy (CIS) to transgenders.
Transgender entrepreneurs can now avail themselves of the benefits offered under the scheme, with subsidy eligibility of 50%.
The MKUY guidelines have been updated to include sericulture-related activities. By incorporating this sector into the scheme, the government aims at encouraging entrepreneurship in Sericulture and harness its potential for economic growth and employment generation.
Since the inception of MKUY from 1st June 2018 until 31st March 2023, the programme has proven to be successful in Odisha.
During this period, a staggering number of 1,701 Agri-entrepreneurs have been created in the state, contributing to the overall development of the Agricultural sector.
Further, the government has disbursed a substantial CIS amount of Rs 81.22 crore in the year 2022-23.
About 100 nos of Agri enterprises are enlisted in MKUY relating to different sectors Agriculture -25 no’s, Horticulture- 27 no’s, AH&VS-15 no’s, Fisheries-14 no’s and Interdepartmental -19 no’s.
MKUY scheme is fostering economic growth and empowering Agri-entrepreneurs in Odisha.
As many as 943 entrepreneurs got subsidy in 2022-23 with an amount of Rs 81.22 crore while in 2021-22, a total of 374 entrepreneurs received subsidy of Rs 31.06 crore.