Over 200 farmer producer organizations (FPOs) have received credit guarantees worth ₹ 67.91 crores from the government in the last seven years, Parliament was informed on Friday.
The government established the 100 crore Credit Guarantee Fund in the 2013-14 fiscal year through the Small Farmers’ Agribusiness Consortium (SFAC) to fund the project load of FPOs.
In a written reply to the Rajya Sabha, Agriculture Minister Narendra Singh Tomar stated, ‘To date, 202 farmer producer firms (also known as FPOs) have been awarded credit guarantee cover equal to ₹ 67.91 crores.’
The minister further stated that as part of the federal strategy to build and promote 10,000 FPOs across the country, the Centre has established a credit guarantee cover with the National Bank for Agriculture and Rural Development (NABARD).
Tomar claims that SFAC has promoted 1,340 FPOs and mobilized 9.83 lakh farmers as member beneficiaries since 2011-12. He further mentioned that NABARD has promoted 5,758 FPOs with a total membership of 15.95 lakh farmers.