‘Better bargaining, large scale trading…’: PM Modi lists 5 powers of FPOs
Prime Minister Narendra Modi on Saturday transferred more than ₹20,000 crore to over 10 crore eligible farmer families across the country as part of the 10th instalment of the PM-KISAN scheme.
Prime Minister Narendra Modi on Saturday listed five powers of the farmer product organisations (FPOs) during his address after releasing the 10th instalment of financial benefit under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme.
PM Modi said that the FPOs have a major role to play in mobilising the “growing potential of small farmers” of India. “Small farmers who earlier used to remain isolated, have big powers now in the form of [the] FPO,” he added.
Here is the list of five powers listed by PM Modi:
- Better bargaining opportunities, which PM Modi said define “bargaining power.”
- The opportunity to do trading on a large scale.
- Using and incorporating innovative ways to boost business.
- PM Modi said the fourth power is risk management. “Together, you (farmers) can better assess challenges and create ways to deal with them,” he added.
- According to the prime minister, the fifth power of FPOs is the ability to change as per the evolving market trends.
Under the PM-KISAN scheme, more than ₹20,000 crore was transferred to over 10 crore beneficiary families across the country. PM Modi released the 10th instalment at an event via video conference. Eligible farmer families get a financial benefit of ₹6,000 each year under the scheme, payable in three equal instalments of ₹2,000. The money is transferred directly to the bank account of the beneficiaries.
The PM-KISAN scheme was announced in February 2019, and with the latest instalment, the amount provided under the scheme has reached nearly ₹1.8 lakh crore.
Personalise your news feed. Follow trending topics