Financial assistance of 33 lakhs provided to each FPO » Bhajpa Ki Baat
In order to realize the Prime Minister Shri Narendra Modi’s vision of “Sahkar se Samriddhi” and with the efforts of Union Home Minister and Minister of Cooperation Shri Amit Shah, a decision has been taken to form 1100 New Farmer Producer Organizations (FPOs) in Cooperative Sector. A target of these 1100 additional FPOs has been allocated to National Cooperative Development Corporation (NCDC) by the Ministry of Agriculture and Farmers’ Welfare under its ‘Formation and Promotion of 10,000 FPOs’ scheme.
Under the FPO Scheme, financial assistance of Rs. 33 lakhs is provided to each FPO. Further, financial assistance of Rs. 25 lakhs per FPO is provided to the Cluster Based Business Organizations (CBBO).
Primary Agricultural Credit Societies (PACS), which have a member base of around 13 crore farmers and are primarily engaged in short-term credit and distribution of seeds, fertilizers, etc. will now be able to undertake other economic activities as well. Integration of PACS in the FPO scheme will enable them to expand their business in the areas of supply of production inputs; agricultural equipment like cultivator, tiller, harvester, etc. and processing, including cleaning, assaying, sorting, grading, packing, storage, transportation, etc. PACS will also be able to undertake high income generating activities like bee-keeping, mushroom cultivation, etc.
This initiative will ensure remunerative prices to farmers for their produce by providing them necessary market linkages. It would also lead to diversification in the economic activities of PACS, thus enabling them to generate new and stable sources of income.
(News Source -Except for the headline, this story has not been edited by Bhajpa Ki Baat staff and is published from a BJP KS feed.)