The Central Government will spend nearly twelve crore rupees for funding 112 startups to promote agri firms in the current financial year. 

Minister of Agriculture and Farmers’ Welfare Narendra Singh Tomar said the funds will be given to the start-ups selected by different knowledge partners and agribusiness incubators in the area of agro-processing, food technology and value addition.

He said, the funds will be provided under the Innovation and Agri-entrepreneurship Development Programme launched under the revamped Rashtriya Krishi Vikas Yojana. These start-ups were trained for two months at 29 agri-business incubation centres spread across the country.

The Minister said that the government is promoting start-ups in the field of agriculture for enhancing income of farmers and providing employment opportunities to youth. He said, Prime Minister Narendra Modi had said that start-ups and agri-entrepreneurs need to be promoted to ensure innovation and use of technology in agriculture and allied sectors.