The National Bank for Agriculture and Rural Development (NABARD) has planned to promote 200 farmer producers’ companies (FPOs) in the State this year. It would extend financial assistance to meet the initial expenses of each FPO, said S. Nagoor Ali Jinnah, Chief General Manager, NABARD.
Talking to The Hindu here on Thursday, he said the NABARD will lend term loan or composite loan with working capital and term loan requirement to FPOs.
It will fund for skill building exercises, guide business planning and support technological extension through exposure visits, agriculture university tie-ups, expert meetings and explore tie-up with buyers and big agro companies.
Equity support was restricted to Rs.1,000 per borrower for 1,000 borrowers. The FPO can get loan up to Rs.1 crore.
The FPO will help farmers to increase income, scale down production cost, eliminate middle men and empower them with bargaining power.
Top priority was given to improve irrigation facilities as the state had tapped 85 per cent of groundwater. The NABARD has planned to pump Rs.15,000 crore in the state for various farm activities.
It has been implementing 265 watershed programmes to conserve water and encourage farmers take up soil and water conservation measures.
A survey stated that nothing would grow in Punjab after two or three decades due to sharp increase in salinity and acidity level in soil. It was high time to act against climate change.
Under national adaptation fund for climate change, two projects – management and rehabilitation of coastal habitats and biodiversity for climate change adaptation and sustainable livelihood in the Gulf of Mannar at an estimated cost of Rs.24.74 crore and integrated surface water management through rejuvenation of 20 tanks and 32 village ponds in Pudhucheery at a cost of Rs.17.57 crore -- had been sanctioned for the state.
Communication technologies would be utilised effectively to take all the required information about climate change and weather to farmers quickly.
Equal importance was given for financial inclusion taking financial help to the unreached people and credit link to more SHG members, he added.
