Pradhan Mantri Krishi Sinchayee Yojana (PMKSY)
            The scheme has been approved with an outlay of Rs. 50,000 crore for a period of 5 years
      (2015-16 to 2019-20). The major objective of PMKSY is to achieve convergence of investments
      in irrigation at the field level, expand cultivable area under assured irrigation, improve on-farm
      water use efficiency to reduce wastage of water, enhance the adoption of precision irrigation and
      other water saving technologies (Per drop, More crop), promote sustainable water conservation
      practices etc. Cabinet decision was taken in July, 2016 for implementation of PMKSY in a
      mission mode. The mission is administered by Ministry of Water Resources, River Development
      and Ganga Rejuvenation with the Per Drop More Crop component being administered by
      Department of Agriculture, Cooperation and Farmers Welfare (DAC&FW).
      Agriculture Credit
            Government announces annual target for agriculture credit in the budget every year.
      Agricultural credit flow has shown consistent progress every year. The target for the year 2016-
      17 was fixed at ₹ 9,00,000 crore and against this target the achievement was ₹10,65,756 crore.
      The agriculture credit flow target for 2017-18 has been fixed at ₹10,00,000 crore. The
      Department implements the Interest Subvention Scheme under which interest subvention is
      provided on short-term crop loans upto ₹ 3 lakh for a period of one year which is made available
      to farmers at subvented interest rate of 7 per cent per annum and in case of timely repayment, the
      same gets reduced to 4 per cent per annum.
      Crop Insurance
            In order to protect farmers against crop failure due to natural calamities, pests and diseases,
      weather conditions, Government of India introduced the National Crop Insurance Programme
      (NCIP) with component schemes of Modified National Agricultural Scheme (MNAIS), Weather
      Based Crop Insurance Scheme (WBCIS) and Coconut Palm Insurance Scheme (CPIS). In
      addition, National Agricultural Insurance Scheme (NAIS) which was withdrawn after
      implementation of NCIP from rabi 2013-14 and was extended further upto 2015-16. A new
      scheme “Pradhan Mantri Fasal Bima Yojana (PMFBY) was implemented from kharif 2016 along
      with restructured pilot Unified Package Insurance Scheme (UPIS) and Weather Based Crop
      Insurance Scheme (WBCIS).
      Commission for Agricultural Costs and Prices
            Commission for ‘Agricultural Costs and Prices’ (CACP), set up with a view to evolve a
      balanced and integrated price structure, is mandated to advice on the price policy (MSP) of 23
      crops. These include seven cereal crops (paddy, wheat, jowar, bajra, maize, ragi and barley), five
      pulse crops (gram, tur, moong, urad and lentil), seven oilseeds (groundnut, sunflower seed,
      soyabean, rapeseed mustard, safflower, niger seed and seasmum), copra (dried coconut), cotton,
      raw jute and sugarcane. CACP submits its recommendations in the form of Price Policy Reports
      every year, separately for five groups of commodities namely kharif crops, rabi crops, sugarcane,
      raw jute and copra.
      Determinants of MSP
            Cost of production (CoP) is one of the important factors in the determination of MSP of
      mandated crops. Besides cost, the Commission considers other important factors such as demand