CCEA Approves Scheme for Formation and Promotion of FPOs

Published on February 20, 2020
Current context: The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, has given its approval on 19th Feb 2020 for “Formation and Promotion of Farmer Producer Organizations (FPOs) "to form and promote 10,000 new FPOs.
CCEA Approves Scheme for Formation and Promotion of FPOs
  • The central sector scheme “Formation and Promotion of FPOs” shall promote 10,000 new FPOs in five years period from 2019-20 to 2023-24.
  • The scheme will have a total budgetary provision of Rs. 4496.00 crore for the five year period (2019-20 to 2023-24).
  • It will have a further committed liability of Rs. 2369.00 crore for period from 2024-25 to 2027-28 towards handholding of each FPO for five years from its aggregation and formation.
  • The scheme will provide farmers to have better collective strength for better access to quality input, technology, credit and better marketing access through economies of scale for better realization of income.
  • Initially, the scheme will have three implementing Agencies to form and promote FPOs, namely:
    1. Small Farmers Agri-business Consortium (SFAC)
    2. National Cooperative Development Corporation (NCDC)
    3. National Bank for Agriculture and Rural Development (NABARD)
  • In the Union Budget 2019-20, Government has announced the creation of 10,000 new FPOs to ensure economies of scale for farmers over the next five years.

Question: 

Q.1 The central sector scheme “Formation and Promotion of Farmer Producer Organizations (FPOs) “is launched to form and promote _________ new FPOs in five years period from 2019-20 to 2023-24?
a. 5,000
b. 10,000
c. 50,000
d. 1,00,000

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