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It was established in 1994, to solve exclusion problem of small and marginal farmers in India from modern agriculture due to resource constraints. [5] SFAC founded to bridge the gap, offering better income prospects by connecting these farmers with agribusinesses. [6]
In the case of horticultural and commercial crops, actuarial rates are charged. Small and marginal farmers are entitled to a subsidy of 50 percent of the premium charged- the subsidy is shared equally between the Government of India and the States. The subsidy is to be phased out over a period of 5 years. NAIS operates on the basis of Area approach
The scheme offers a financial help of ₹10,000 per year to each farmer (two crops). There is no cap on the number of acres, and most of the farmers are small and marginal. The total farming land is 1.43 crore acres and the number of farmers in the state stood at 58.33 lakh. Around 55% of population in Telangana make a living from agriculture.
Through reaching a large number of clients, farmers (small and marginal farmers), [21] and people under the poverty line, it can be seen that rural cooperatives have an essential role in the hinterland of rural areas. [22] There are approximately 450,000 cooperatives in India with 220 million people involved. [7]
A smallholding or smallholder is a small farm operating under a small-scale agriculture model. [2] Definitions vary widely for what constitutes a smallholder or small-scale farm, including factors such as size, food production technique or technology, involvement of family in labor and economic impact. [ 3 ]
On 24 February 2019, Narendra Modi launched the scheme in Gorakhpur, Uttar Pradesh, by transferring the first instalment of ₹2,000 each to over one crore farmers. [12] [13] Ministry of Agriculture and Farmers Welfare has awarded the top-performing states, and districts under PM Kisan Samman Nidhi Yojana. [14]
Joint liability groups are a concept established in India in 2014 by the rural development agency, National Bank for Agriculture and Rural Development (NABARD) to provide institutional credit to small farmers. [1] [2]
The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020 was an act of the Indian Government that creates a national framework for contract farming through an agreement between a farmer and a buyer before the production or rearing of any farm produces.