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Role of SFAC is commendable in realizing vision of doubling farmers’ income by 2022: Radha Mohan Singh

New Delhi: Union Minister of Agriculture & Farmers Welfare Shri Radha Mohan Singh has said that the role of SFAC is commendable in realizing Hon’ble Prime Minister Shri Narendra Modi’s dream of doubling farmers’ income by 2022.  He was speaking on the occasion of silver jubilee celebrations of the Small Farmers' Agri-Business Consortium (SFAC) today.

Shri Singh said that in order to encourage small, medium and marginal farmers, the Farmer Producer Organizations (FPOs) are being promoted by Modi Government. In India, about 5000 FPOs are being formed by various organizations such as the SFAC, NABARD and State Governments.  The Minister informed that 551 FPOs have been constituted during 2014-18 by the SFAC, 147.09% more than 223 FPOs set up during 2011-2014. About 7.52 lakh small, medium and marginal farmers have been connected with FPOs.

The Minister said that various programs such as professional training, professional handholding, Delhi Kisan Mandi, FPO-Buyer e-interface portal and strengthening of basic infrastructure etc. are being implemented by the SFAC to make FPOs more sustainable. Besides this, Equity Grant, Credit Guarantee Fund scheme and Venture Capital Assistance scheme are being implemented with the objective of making FPOs financially self-reliant.

Till now (since 2014), 349 FPOs have been provided with a capital subsidy of Rs 20 crore and in addition, 38 FPOs have taken advantage of the Credit Guarantee Fund scheme. Under Venture Capital Assistance scheme, 850 projects were given Rs 264.32 crore till 2014, which increased to Rs 404.45 crore in 1426 projects in the last 4 years.

This has resulted in an impressive increase of 67.76% in projects and 53.03% in the Venture Capital Assistance amount. He added that SFAC is committed to benefiting more and more FPOs through e-NAM. Under this, 634 FPOs have been connected in 16 states to benefit small, medium and marginal farmers through e-NAM. Secretary, Department of Agriculture, Cooperation and Farmers Welfare Shri Sanjay Agarwal was also present on this occasion.

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