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Regulatory Issues of Farmers Producers Companies in India

Indian Agricultural Research Journals

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Title Regulatory Issues of Farmers Producers Companies in India
 
Creator V, Shridevi
Gummagolmath, K C
 
Subject Farmer Producer Organization (FPO)
Farmers Producer Company (FPC)
Policy-Making
 
Description In the recent past, a new model of aggregation in the form of Farmers Producers Company (FPC) has evolved. The instrument of Farmer Producer Company (FPC), registered under the Companies Act, 1956 is emerging as an effective Farmer Producers Organization (FPO) to cater to the aggregation needs of farmers at the grass roots level.  The main objective of mobilizing farmers into member-owned producer companies, or FPCs, is to enhance the production, productivity and profitability of agriculturists, especially small farmers in the country. FPCs offers a wide range of benefits compared to other formats of aggregation of the farmers. These groups are democratically owned and run by management consisting of Board of Directors (BoD) drawn exclusively from farmer members while, the day to day activities are managed by Chief Executive Officers (CEOs), and a management professional who is responsible for overall development of FPCs. FPCs are promoted by many public and private agencies through several schemes and programs of the government of India and State governments. However, these FPCs are facing some regulatory issues as for running this model on joint stock company mode, mainly due to a lack of awareness about the same. Majority of the FPCs are failing to comply with legal provisions laid down in the Companies Act as amended in the year 2002. Hence, through this article, suggestions are made to ease the legal compliances for FPCs. It is suggested to create awareness through massive capacity-building programs and there is a need to relook into the legal compliances which attract hefty fines.
 
Publisher National Institute of Agricultural Extension Management (MANAGE)
 
Date 2024-06-30
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://epubs.icar.org.in/index.php/JAEM/article/view/156688
 
Source Journal of Agricultural Extension Management; Vol. 25 No. 1 (2024); 19
0976-3120
 
Language eng
 
Relation https://epubs.icar.org.in/index.php/JAEM/article/view/156688/55873
 
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