With an investment of Rs 372.18 crore, the Jammu and Kashmir government has succeeded for approving ambitious national mission for the rejuvenation of saffron cultivation in the state.

"The coalition government headed by the chief minister Omar Abdullah has succeeded for approving ambitious national mission for the rejuvenation of saffron cultivation in the state with an investment of Rs 372.18 crore," state agriculture minister G H Mir said in the Assembly.

He said it will help the saffron farmers to double the productivity and production in the state in next four years.

Similarly, the government succeeded to give export status to famous Basmati rice of R S Pura belt of Jammu, he said adding a project worth Rs 540.35 crore has been submitted to the Central government to improve the quality, productivity and production of indigenous varieties of Basmati.

To provide incentives to farming community, Mir said the abolition of VAT on agriculture tools and implements and exemption of both toll tax and VAT on pesticides, weedicides insecticides, fertilizers, fodder, beehives and bee colonies would help a lot to this community.

The minister said the government has revived the Sericulture Sector in a big way as the sector has huge potential to provide employability to the job seekers.

He said a cocoon rarer friendly scheme has been launched in the State to provide them assistance of Rs 50,000 for setting up a cocoon shed, besides a women's health insurance schemes in collaboration with ICICI Lombard has been launched in the State with the assistance of Central Slik Board. 5,000 women have been covered under the scheme so far, Mir said.

The minister said the government has also initiated to revive the Agro Industries Development Corporation for which Rs 2 crore were provided to the Corporation this year to revamp its existing cold storage at Lal Mandi in Srinagar.

The Corporation has also taken the steps to modernize cold storage facilities of the Corporation at New Delhi under NABARD funding.