The outlay for Rashtriya Krishi Vikas Yojana (RKVY) was being increased from Rs 7,860 crore (US$ 1.46 billion) in 2011-12 to Rs 9,217 crore (US$ 1.71 billion) in 2012-13.
Further, an amount of Rs 1,000 crore (US$ 185.53 million) has been allocated for 'Bringing Green Revolution to Eastern India (BGREI)' initiative, compared to Rs 400 crore (US$ 74.22 million) in 2011-12.
Allocation to the Department of Agriculture and Cooperation has increased considerably from Rs 5560 crore (US$ 1.03 billion) in 2007-08 to Rs 20,208 crore (US$ 3.75 billion) in 2012-13 facilitating more investment in the sector.
India's agricultural growth for the period of 2012-13 was positive, largely on the back of normal monsoon. The Gross Domestic Product (GDP) growth in the agricultural sector is forecast at 3% for coming year, according to the National Council of Applied Economic Research (NCAER).
India's agricultural growth for the past three has remained in the positive regime and it is expected to continue for the coming years too.
The annual agriculture target for the financial year 2012-13 has been fixed at Rs 5,75,000 crore (US$ 106.69 billion) against the target of Rs 4,75,000 crore (US$ 88.13 billion) in 2011-12