MKUY Gets Five-Year Extension to Encourage Entrepreneurship in Agriculture and Allied Sectors Through Subsidies and Financial Assistance

Bhubaneswar,  July 23 UDN}:  The Mukhyamantri Krushi Udyog Yojana (MKUY), a major government initiative aimed at encouraging entrepreneurship in the agriculture and allied sectors by providing subsidies and financial assistance to eligible agricultural entrepreneurs, has been extended for another five years. The extension is expected to provide continued support to farmers, agri-entrepreneurs, and investors who are interested in setting up and expanding agriculture-based enterprises across the state.

Under the scheme, beneficiaries are provided with financial incentives and subsidies to help them establish agricultural and allied-sector businesses, promote value addition, improve agricultural productivity, and generate employment opportunities in rural areas. The continuation of the programme for an additional five years is expected to give a significant boost to the development of the agricultural economy and encourage more people, particularly young entrepreneurs, to invest in agriculture-related enterprises.

According to the decision, the government is likely to spend approximately ₹2,500 crore during the extended period for implementing the scheme and providing the required financial support to eligible beneficiaries. The extension is expected to strengthen the state’s agriculture sector by promoting modern farming practices, agro-processing, food processing, horticulture, livestock, fisheries, and other allied activities.

The government hopes that the continued implementation of the Mukhyamantri Krushi Udyog Yojana will create a more favourable environment for agricultural entrepreneurship, increase farmers’ income, encourage private investment in the sector, and create new employment opportunities. The initiative is also expected to help transform agriculture from traditional farming into a more commercially viable and sustainable enterprise by supporting entrepreneurs throughout the state.

With an estimated expenditure of around ₹2,500 crore over the next five years, the extension of the scheme is being viewed as an important step towards strengthening the agricultural ecosystem and promoting inclusive economic growth through agriculture and allied industries.