Government Approval for Farmer Producer Organizations
- On 21st February, 2020, the Centre approved a scheme for formation and promotion of 10,000 new farmer producer organizations (FPOs) in the country with budgetary support of Rs 4,496 crore by 2024.
- Currently, there are over 3,000 FPOs in the country with majority of them being supported by the National Bank for Agriculture and Rural Development (NABARD).
- A Farmer Producer organisation is a hybrid between cooperative societies and private limited companies.
- It deals with business activities related to the farm produce and works for the benefit of the member producers.
- The objective is to organize farmers into a collective to improve their bargaining strength ....
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