Small Farmer’s Agribusiness Consortium (SFAC)
Why is it in News?
The Government has stated that the SFAC has a predominant role to play in achieving the target of doubling of farmers’ income by 2022.
- SFAC was established as an autonomous society by the Government of India (Ministry of Agriculture & Farmers’ Welfare) in 1994. It is also registered as a Non Banking Financial Company (NBFC) which is regulated by the RBI.
- SFAC is an exclusive society focused on increasing incomes of small and marginal farmers through aggregation and development of agribusiness.
How does SFAC help the Farmers in Increasing their Income?
- It helps the farmers’ by linking them to the global and domestic value chains. It also provides training, credit, technology to the farmers and promotes investment.
- SFAC also offers schemes like the Equity Grant and Credit Guarantee Fund Scheme to Farmer Producer Organization (FPO) to improve availability of working capital and development of business activities.
Point to Remember for Prelims:
- e-NAM is a platform that provides for a single unified market for agricultural products with much higher price discovery for farmers. It is SFAC that is entrusted upon to implement this e-NAM facility.