Applauding NABARD’s initiatives in promotion of farmer producer organisations (FPOs) in line with Centre’s call for doubling farm income by 2022, Union Finance Minister Arun Jaitley expressed optimism that the apex development bank would achieve the milestone of promoting 5000 FPOs in the next couple of years.
Referring to the announcement made in the latest Union Budget allowing tax exemption to FPOs with a turnover up to Rs 100 crore, the Minister reiterated the government’s commitment to extend support to FPOs for their promotion, upscaling and growth.
NABARD has supported around 4000 FPOs across the country at the end of FY’18 of which over 2000 are registered entities actively doing business in agricultural activities. As many as 507 FPOs are engaged in bulk input procurement and distribution while 223 FPOs are involved in aggregation and marketing of fruits and vegetables. Agro processing, government procurement scheme, dairy, organic farming, seed production and marketing, fishery and other allied activities are also undertaken the FPOs.