The government will provide Rs 15 lakh to farmers
The government will spend Rs 6,865 crore on the scheme by 2024
The government plans to free farmers from middlemen
The government has announced big gifts to farmers. Now farmers can get up to Rs 15 lakh. However there are some conditions for getting this amount. This amount can be obtained only on the basis of these conditions. It has been named PM Kisan FPO Scheme 2020. Along with this it is believed that it can improve the condition of farmers. The government will spend Rs 6,865 crore on the scheme by 2024.
What is the purpose of this scheme?
The central government has started it to provide economic relief to farmers. So as to get rid of intermediaries. It means Farmer Producer Organization (FPO).
How to get Rs 15 lakh?
An FPO will be set up for Rs 15 lakh. It will have a farmer’s group. The group will get Rs 15 lakh. This group should have at least 11 farmers. These 11 farmers have to form an organization or a company.
What money will be found here at once?
No, this money will be received in three years. That means it will get some phases.
What will be the benefit from this?
The scheme will also have group farmers who will get various benefits. The country will benefit farmers as much as it does business in agriculture. Farmers will have the opportunity to turn farming into a business.
Is it possible to get Rs 15 lakh just by setting up an agri company?
No, after 11 farmers form an agri company, it has to be registered under the Companies Act, which has to work for the benefit of the producer. Under this, the organizations will get Rs 15 lakh.
Which state will get this benefit?
Farmers in all the states of the country will benefit from it. You can create an organization in whatever state you are in. If the farmers are in the plains then 300 farmers can join them. If there is a hilly area like Uttarakhand or any other, it can connect 100 farmers.
How to apply?
So far the government has not started the registration process. You can apply for this after some time when the government will start fully. A notification for this may come shortly.