Rs 1190 cr Agricultural Innovation Proj approved

New Delhi, June 29: The government today cleared the National Agricultural Innovation Project at a cost of Rs 1,189.99 crore.

The project, to be started from July 1, is to be completed within six years, Information and Broadcasting Minister Priya Dasmunsi told reporters after the Cabinet meeting that cleared the project.

The World Bank will share about Rs 950 crore as credit while the Indian government's share will be about 240 crore.

Of the total cost, Rs 685.86 crore is investment cost and Rs 504.13 crore recurrent cost.

The different components of the project will be implemented by a large network of public research institutions, private sector, non-governmental organisations, and other stakeholders.

Since the project implementation will involve major management responsibility for the Indian Council of Agricultural Research/Project Implementation Unit-National Agricultural Innovation Project (ICAR/PIU-NAIP), the PIU will have core staff supported by need-based consultants and contractual staff.

The decision would result in about 15 value chain development reports for serving as models for other potential areas and planning for investment, and about 20 sustainable rural livelihood models for replication in other disadvantaged areas.

It would also generate about 25 patents of scientific and economic significance, besides about 100 research papers published in high quality and impact research journals.

UNI