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The cooperation ministry on Wednesday said 1,100 new farmer producer organisations will be established in the cooperative sector under a central scheme. Because February 2021, the agriculture ministry is utilizing a central sector scheme titled ‘Formation and promotion of 10,000 Farmer Producer Organisations (FPOs) with a budgetary provision of Rs 6,865 crore.
Less than the plan, a concentrate on of setting up 1,100 additional FPOs has been allotted to the National Cooperative Growth Company (NCDC), an formal statement mentioned. A money guidance of Rs 33 lakh is offered to every single FPO beneath the scheme. Additional, a money assistance of Rs 25 lakhs for every FPO is provided to the Cluster Based mostly Organization Organisations (CBBO).
According to the cooperation ministry, key Agricultural Credit Societies (PACS) — which have a member foundation of all over 13 crore farmers and are mainly engaged in short-phrase credit score and distribution of seeds and fertilisers — will now be able to undertake other financial activities as nicely.
Integration of PACS in the FPO scheme will allow them to develop their company in the spots of source of production inputs agricultural tools like cultivator, tiller and harvester, and processing, it said.
PACS will also be ready to undertake large earnings building functions like bee-keeping, mushroom cultivation, and others.”This initiative will be certain remunerative rates to farmers for their create by giving them required industry linkages,” the ministry reported.
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