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NABARD to promote 5000 Farmer Producer Organizations in next 2 years: MoS, Finance

Mumbai:12/7/18;Applauding NABARD’s initiatives in promotion of Farmer Producer Organisations (FPOs) in line with Centre’s call for doubling farmers’ income by 2022, Union Minister Shri Arun Jaitley expressed optimism that the apex development bank would achieve the milestone of promoting 5000 FPOs in the next couple of years. Speaking of the reduction in farm size over the years, the Minister recalled that under the Union Budget 2018, NABARD was mandated with the task of setting up FPOs. Noting that small farms are no longer sufficiently remunerative, the Minister said that small and marginal farmers will benefit from economies of scale when they become a part of FPOs, which provide support in terms of information and infrastructure. Shri Jaitley was addressing the 37thFoundation Day commemoration seminar on “Collectivisation and Market Linkages: Farmer Producer Organisations” held in Mumbai today, via video-conferencing.

Noting that India has now overtaken France to become the sixth largest economic power of the world, the Minister said that the rate at which we are progressing makes it likely that we reach the fifth position next year. Shri Jaitley opined that while the world now acknowledges India as the fastest growing large economy, our true measure of development will be when we are able to remove poverty from the nation. He said that the growth of agriculture will play an important role in realizing this goal.

Recalling the example of Goods and Services Tax (GST) as a good example of cooperative federalism, the Minister said that an even better instance which would benefit the nation even more would be cooperative federalism in the agricultural sector. He said that cooperation between Centre and states in the federal model would lead to an optimum utilization of Central and state finances deployed towards agriculture. He asked NABARD to reflect on this suggestion, which he said would take us closer to the Government’s goal of doubling farmers’ income by the year 2022.


Chairman, NABARD, Shri Harsh Kumar Bhanwala; Secretary, Agriculture, Shri S. K. Patnayak; Executive Director, RBI, Smt. Surekha Marandi, representatives from Banking and Agriculture Sector and other dignitaries were present on the occasion.


Citing the priority of the Government towards strengthening rural infrastructure and farmers’ income, the Minister said that around 14 lakh crore rupees has been allocated towards the agriculture sector in Union Budget 2018. He said that this will be good for the national economy. Shri Jaitley said that along these lines, the recent Cabinet decision to hike the Minimum Support Price is a historic decision. The Minister said that given the progress taken in providing housing, electricity, sanitation and bank accounts to people in rural areas, a revolutionary transformation has been happening in the Indian rural sector. He said that these initiatives will eventually result in a change in lifestyle and will enable those living in India’s villages to increase their income on their own. He also called for a change in mindset, wherein rural sector investment is given high priority in the future as well.

The Chief Guest for the occasion, Union Minister of State, Finance, Shri Shiv Pratap Shukla announced that NABARD would promote 5000 more FPOs in the next two years. He said that the government is committed to double farmers’ income by 2022 and that various efforts undertaken for promotion of FPOs will help in achieving this goal.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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