In order to realize the Prime Minister Narendra Modi’s vision of “Sahkar se Samriddhi”, a decision has been taken to form one thousand 100 New Farmer Producer Organizations (FPOs) in the Cooperative Sector.
The Ministry of Cooperation in a statement said, these additional 1100 FPOs have been allocated to National Cooperative Development Corporation (NCDC) under FPOs’ Scheme.
Under the FPO Scheme, financial assistance of 33 lakh rupees is provided to each FPO. Further, financial assistance of 25 lakh rupees per FPO is provided to the Cluster Based Business Organizations.
The Ministry said, Primary Agricultural Credit Societies which are primarily engaged in short-term credit and distribution of seeds and fertilizers will now be able to undertake other economic activities as well including high income generating activities like bee-keeping and mushroom cultivation.
This initiative will ensure remunerative prices to farmers for their produce by providing them necessary market linkages.