State of Maharashtra’s Agri-business and Rural Transformation Program (SMART) Project

News:Government of India, the Government of Maharashtra and the World Bank has signed a loan agreement of USD 210 million for State of Maharashtra’s Agribusiness and Rural Transformation Project(SMART).

Facts:

About SMART Project:

• The project has been launched by the Maharashtra Government with the assistance of World Bank.
• It aims to transform Rural Maharashtra through the revamp of agricultural value chains with special focus on marginal farmers.

Objectives of the project:

• Support value addition in the post-harvest segments of agriculture value-chains;
• Facilitate agribusiness investments through inclusive business models that provide opportunities to small farmers;
• Stimulate the establishment of small and medium enterprises; and
• Support resilience of agricultural production systems to better manage increasing production and commercial risks associated with climate change.

Significance of the project:

• The project is a giant step towards transformation of rural economy and empowerment of farmers.
• The project unites agriculture-oriented corporates and farmers by providing them a common platform.