Centre neglects Telangana in agribusiness development through VCA
Funds to BJP-ruled States like Gujarat were sanctioned Rs.14,127 lakhs, only Rs.2,688 lakhs were sanctioned to Telangana through VCA.
Hyderabad: The BJP-led union Government’s lack of support to agribusiness development through Venture Capital Assistance (VCA) was exposed in the form of funds allocated to States, especially Telangana.
In 2017-18, the Union Government allocated Rs.110.98 lakh to Central Sector Scheme for agribusiness development through VCA to different States. This came down to Rs.49.42 lakh in 2021-22.
The Union Government had introduced the VCA to facilitate agribusiness development. The objective was to assist agripreneurs to invest in setting up agribusiness projects through financial participation. It also provides financial support for preparation of bankable Detailed Project Reports (DPRs) through Project Development Facility (PDF).
In Rajya Sabha on Friday, union Minister for Agriculture Narendra Singh Tomar told BRS MP K Keshava Rao that 154 applications were received and 49 projects were qualified in Telangana. Further, there was discrimination in allocation and sanction of funds. While, BJP-ruled States like Gujarat were sanctioned Rs.14,127 lakhs, only Rs.2,688 lakhs were sanctioned to Telangana.
VCA disbursed to agribusiness project since 2014
State Project cost (Rs lakhs) VCA sanctioned (Rs lakhs) Farmers benefited Employment generated
Andhra Pradesh 9,197 748 1,436 897
Gujarat 17,0879 14,127 13,853 6,236
Maharashtra 1,09,952 9,892 16,474 8,274
Telangana 34,190 2,688 2,170 1,284
Uttar Pradesh 96,339 7,854 1,7581 43,75
