Doubling Farmers’ Income Current Affairs - 2020

NABARD launches Scheme: Rs 5,000 crores allocated to computerise PACS

The National Bank for Agriculture and Rural Development (NABARD) has launched a refinance scheme for financial institutions and banks. It has allocated Rs 5,000 crores for the scheme.

Highlights

Under the scheme, the Primary Agricultural Credit Societies are to be turned into multi-service centres. The fund allocated under the scheme is to be made available to financial institutions and banks to lend to the beneficiaries in 2,150 water shed development projects.

About the projects

The scheme will mainly focus on watershed development projects. These projects are spread over 2.3 million hectares of watershed, tribal development and rainfed areas.

Computerisation of PACS

NABARD has also launched the scheme to computerise PACS (Primary Agricultural Credit Societies). Under the scheme, 5,000 PACS are to be upgraded in the initial phases, 15,000 by 2022 and another 15,000 by 2023.

Significance of PACS

PACS support farmers in post-harvest and marketing activities. Also, it plays key role in supply chain activities by acting as spokes to the upcoming Gramin Agriculture Markets.

Gramin Agriculture Markets

The Gramin Agriculture Markets are village level markets in India. There are 22,000 rural agricultural markets in the country. These markets are to be linked with E-NAM. This will help organize the agriculture market sector and help farmers sell at best prices. Hence, the initiative will help India achieve its target of doubling farmers income by 2022.

Procurement of Pulses and Oil Seeds from Farmers

The Government of India has procured oil seeds and pulses from farmers directly at Minimum Support Prices. Currently, the Price Support Scheme for the Rabi season has been launched in Andhra Pradesh, Karnataka, Rajasthan, Telangana, Uttar Pradesh, Haryana and Maharashtra.

Highlights

Till now the Food Corporation of India (FCI) and NAFED (National Agricultural Cooperative Marketing of India) have procured 1.33 lakh metric tonnes of pulses and 29,264 metric tonnes of oilseeds. This has benefitted more than 1.14 lakh farmers. The value of pulses and oil seeds procured so far amount to Rs 784.77 crores

Procurement of gram and Mustard seeds have also begun.

NAFED

The NAFED was established in 1958. It is the apex organization for all marketing cooperatives of agricultural produce in the country. Apart from agricultural produce, NAFED also procures forest resources. The NAFED is registered under Multi-State Cooperative Societies Act. It was established as a nodal agency for price stabilization in the country under “Operation Greens”.

Operation Greens

Operation Greens was introduced in the Union Budget 2018-19. It allocated Rs 500 crores to the Farmer Produce Organizations. The project aims to stabilize the supply of tomatoes, onion and potatoes in the country. It will also aid in doubling farmers’ income by 2022.