News Update

PLI scheme for electronics manufacturing sees incremental investment of Rs 8,390 CrG20 finance leaders agree to tax super-rich but forum not yet readyDPIIT promotes green logistics industry balancing economic growth and environmentIndia, US ink pact to stymie illegal trafficking of cultural propertyRailways expands tracks by 31,180 kmFroth in Yamuna river: Delhi complains to Centre against UP and HaryanaGovt to enhance reach of Indian Digital Public InfrastructureFormer BJP Minister says BJP has totally failed as Opposition in KarnatakaGovt provides incentives to small tea growersEU penalises 5 countries for infringing budget rulesI-T-Transaction involving transfer of unutilised shares cannot be deemed to be sale of shares so as to attract levy of Long Term Capital Gain u/s 112: ITATChina says Relations with Japan at critical stageST - Once the activity of appellant that is of forfeituring the amount of earnest money is not a declared service, question of retaining said money as consideration for rendering such service becomes absolutely redundant: CESTATEU medicines regulator disapproves Alzheimer’s new drugSC says no restrictions on voluntary name banners along Kanwar route eateriesFM favours debt reduction but sans affecting economic growthKargil Victory Day: PM warns Pak against practising terrorismChina pumps in subsidies worth USD 41 bn into car sectorMisc - Payments made to Government cannot be deemed to be a tax merely because statute provides for their recovery as arrears: SC CBMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SC
 
5,000 Farmer Producer Organizations registered on ONDC platform

By TIOL News Service

NEW DELHI, MAR 04, 2024: ALMOST 5,000 out of 8,000 registered Farmer Producer Organizations (FPOs) have been registered on Open Network for Digital Commerce (ONDC) portal for selling the produce online to consumers across the country. The onboarding of FPOs on ONDC to reach out to their buyers in any part of the country is in line with the Central government objective of providing growers with better market access. The move aims to empower FPOs with direct access to digital marketing, online payment, business-to-business and business-to-consumer transactions.  Over 8,000 FPOs have been registered against government target of 10,000 under a new Central Sector Scheme titled "Formation and Promotion of 10,000 Farmer Produce Organizations (FPOs)" launched in 2020 with budgetary provision of Rs 6,865 crore. Aggregation of small, marginal and landless farmers into FPOs help enhance economic strength & market linkages of farmers for enhancing their income. FPOs facilitate farmers with access to improved technology, credit, better input and more markets to incentivize them to produce better quality commodity.

FPOs are provided financial assistance up to Rs 18.00 lakh per FPO for a period of 3 years. In addition to this, provision has been made for matching equity grant up to Rs. 2,000 per farmer member of FPO with a limit of Rs. 15.00 lakh per FPO and a credit guarantee facility up to Rs. 2 crore of project loan per FPO from eligible lending institution to ensure institutional credit accessibility to FPOs. So far, Credit Guarantee has been issued to 1,101 FPOs worth guaranted coverage of Rs 246.0 crore covering more than 10.2 lakh farmers.  Matching equity grant amounting to Rs 145.1 crore has been transferred directly to the bank account of the eligible 3,187 FPOs.

Formation & promotion of FPOs is the first step for converting Krishi into Atmanirbhar Krishi. The initiative enhances cost effective production and productivity and higher net incomes to the member of the FPO. It also improves rural economy and create job opportunities for rural youths in villages itself. This was the major step towards improving farmers' income substantially.

FPOs are to be developed in produce clusters, wherein agricultural and horticultural produces are grown / cultivated for leveraging economies of scale and improving market access for members. "One District One Product" cluster to promote specialization and better processing, marketing, branding & export.  Further Agriculture value chain organizations forming FPOs and facilitating 60% of market linkages for members produce.

The key objectives of the scheme are:

To provide holistic and broad-based supportive ecosystem to form new 10,000 FPOs to facilitate development of and sustainable income-oriented farming and for overall socio-economic development and wellbeing of agrarian communities.

To enhance productivity through efficient, cost-effective and sustainable resource use and realize higher returns through better liquidity and market linkages for their produce and become sustainable through collective action.

To provide handholding and support to new FPOs up to 5 years from the year of creation in all aspects of management of FPO, inputs, production, processing and value addition, market linkages, credit linkages and use of technology etc.

To provide effective capacity building to FPOs to develop agriculture-entrepreneurship skills to become economically viable and self-sustaining beyond the period of support from government.

FPOs can be registered either under Part IXA of Companies Act or under Co-operative Societies


POST YOUR COMMENTS
   

TIOL Tube Latest

Dr. Shailendra Kumar, Chairman, TIOL Knowledge Foundation, addressing the gathering



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.