A five-year budget allocation of Rs 847.14 crore for the Mukhyamantri Krushi Udyog Yojana (MKUY), which aims to modernize the state’s agricultural and related industries and support agri-entrepreneurs, was approved by the Odisha Cabinet on Friday. The money will be used to support business owners with subsidies, encouraging the formation of commercial agri-enterprises, revenue production, and job creation.
MKUY, which was first implemented in June 2018 and then updated in December 2020 and January 2024, has played a significant role in promoting the expansion of agricultural and related sectors. The updated plan seeks to take full advantage of Odisha’s potential in these areas, promoting quick modernization and giving farmers steady sources of income.
It is anticipated that the scheme’s subsidies will lessen the financial strain on agribusiness owners, improve the creation of jobs, and make a substantial economic contribution to the state. The program demonstrates the government’s dedication to empowering farmers and bolstering the agriculture industry.
