AgroStar Krishi Gyaan
16 Oct 19, 01:00 PM
Krishi VaartaThe Economic Times
Government to create Rs 6660 crore fund for farmers
New Delhi. The government is going to create a fund of Rs 6600 crore in the next five years to promote 10 thousand agricultural producer organizations (FPOs) of the country. A senior Agriculture Ministry official said that the scheme will be fully funded by the central government. Approval has been received from the Ministry of Agriculture. Now the Ministry of Expenditure (Department of Expenditure) is reviewing it. The proposal will then be sent to the cabinet for approval.
Finance Minister Nirmala Sitharaman promised this fund in the budget. FPOs are an organized group of small and marginal farmers. The Ministry of Agriculture will fund, guide and train them to initiate FPOs. Apart from this, it will help farmers to get loans easily. The government will also provide technical assistance to the farmers.
The FPO will be run by a business unit and the revenue generated will be distributed among the farmers. Another official said that we will work closely with the state governments, NABARD, the Government Small Farmers Agri-Business Consortium (SFAC). As of now, 822 FPOs have been promoted by SFAC and NABARD has promoted 2154 FPOs.
Source - The Economic Times, 11 October 2019
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