Uttar Pradesh to Launch Agriculture Business Project | 09 Aug 2024
Why in News?
The Uttar Pradesh government is preparing to launch a World Bank-funded agriculture business and entrepreneurship project worth Rs 4,000 crore aimed at boosting rural income.
Key Points
- This initiative will benefit farmers, farm groups, and agro micro, small, and medium enterprises (MSMEs) across 28 districts in eastern UP and the Bundelkhand region.
- The project is estimated to benefit a million farmers, including 30% of the rural women associated with agri Self Help Groups (SHGs).
- As part of the project, financial assistance will be provided to 100,000 fisherfolk.
- Additionally, 500 farmers will be sent on international tours for training in advanced farming techniques.
- The government also intends to invest in high-yielding seed varieties and farm infrastructure, develop a digital platform for the agricultural sector, and help farmers tap into the carbon credit market to boost their income.
Carbon Markets
- Carbon markets are essentially a tool for putting a price on carbon emissions— they establish trading systems where carbon credits or allowances can be bought and sold.
- A carbon credit is a kind of tradable permit that, per United Nations standards, equals one tonne of carbon dioxide removed, reduced, or sequestered from the atmosphere.
- Carbon allowances or caps, meanwhile, are determined by countries or governments according to their emission reduction targets.
- Carbon trading started formally in 1997 under the United Nations' Kyoto Protocol.