Odisha Approves ₹847.14 Crore Budget for Mukhyamantri Krushi Udyog Yojana

Bhubaneswar: In a bid to promote agricultural entrepreneurship and modernize the agriculture sector, the Odisha Cabinet on Friday approved a five-year budget allocation of ₹847.14 crore for the Mukhyamantri Krushi Udyog Yojana (MKUY).

The initiative aims to encourage the establishment of Commercial Agri-Enterprises (CAE), generate employment, and enhance income opportunities for the state’s farming community.

Launched in June 2018 and subsequently revised in December 2020 and January 2024, the MKUY has been pivotal in fostering innovation and growth in agriculture and its allied industries. The newly approved budget will provide subsidies to agri-entrepreneurs, easing financial constraints and supporting them in setting up enterprises.

Key Objectives of MKUY

• Promote entrepreneurship in agriculture and allied sectors.
• Drive modernization and technological advancements in farming.
• Create sustainable income-generation opportunities for farmers.
• Boost employment in rural areas, contributing to overall economic development.

The revised scheme is designed to fully harness Odisha’s potential in agriculture, aquaculture, and related fields, facilitating rapid modernization. By encouraging agri-enterprises, the initiative aims to transform the sector into a dynamic contributor to the state’s economy while ensuring livelihood security for farmers.

“This budgetary provision underscores the government’s commitment to strengthening the agriculture sector and empowering farmers,” a senior official said. “By reducing the financial burden on entrepreneurs and promoting innovation, we aim to make Odisha a leader in agricultural entrepreneurship.”

With the allocated funds, MKUY is expected to drive substantial employment generation, especially in rural areas, while providing a robust platform for agri-business ventures. The scheme aligns with the government’s broader vision of creating a prosperous and self-reliant Odisha.