Odisha Govt. Amends Guidelines for Agri-Entrepreneurs Capital Investment Subsidy Eligibility

The Government of Odisha has decided to amend the guidelines to obtain Capital Investment Subsidy (CIS) to promote agricultural entrepreneurship in Bhubaneswar. Ranendra Pratap Swain, Minister of Agriculture and Farmers Empowerment, Odisha said that the following modifications have been decided for the existing guidelines of Mukhyamantri Krushi Udyog Yojana (MKUY) directed by CM Naveen Patnaik.

Swain also told that the objective of these modifications is to offer increased assistance to agricultural entrepreneurs by introducing improved subsidies, broadening the eligibility requirements, and incorporating additional sectors.

From the amended guideline agri-entrepreneurs will be easily able to apply for new CIS that will include both new projects and expansion or upgradation of existing ventures after 10 years. This will be available from the date of availing full-time access to CIS. Under the revised guideline applicants will be able to avail of CIS worth Rs 10 Lac or more than that for self-finance projects.

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The modifications done in MKUY will allow agri-entrepreneurs to avail benefits, who do not have their land records available in Bhulekh due to unsurveyed villages. A Minister told that “To facilitate larger scale projects, the maximum limit for the CIS has been raised from Rs 50 lakh to Rs 1 crore per family. The MKUY guidelines have also been modified to allow entrepreneurs for projects up to Rs 50 crore from Rs 20 crore."

In a significant step towards promoting inclusivity and empowering marginalized communities, the revised guidelines for the Capital Investment Subsidy (CIS) now extend eligibility to transgender individuals, enabling them to avail of a subsidy of 50%. This progressive measure recognizes the importance of equal opportunities and economic empowerment for all individuals, regardless of gender identity. Additionally, MKUY guidelines have been updated to include sericulture-related activities, further expanding the scope of agricultural entrepreneurship and fostering growth in the sector.

These amendments reflect the government's commitment to creating an enabling environment for diverse participation and sustainable agricultural development. Since its establishment on June 1, 2018, until March 31, 2023, a notable achievement has been recorded in the state with the creation of 1,701 agri-entrepreneurs through the program.

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According to reports 100 agri- enterprises have been listed in MKUY that relate to different sectors. They include 27 in horticulture, 15 in AH & VS, 14 in the fisheries sector, and 25 in the agriculture sector.

Swain emphasized that a significant amount of Rs 81.22 crore was disbursed as Capital Investment Subsidy (CIS) in the fiscal year 2022-23 alone. These figures signify the positive impact of the program in fostering economic growth, creating employment opportunities, and encouraging innovation in the agricultural sector. The government's continuous efforts and investments in empowering agri-entrepreneurs demonstrate their commitment to the development and prosperity of the agricultural community.

-Odisha Bytes

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