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The
establishment of the Small Farmers’ Agri-Business Consortium (SFAC)
in 1994 was a sequel to the Finance Minister’s 1992-93 Budget
Speech including Government of India’s intention to set up an
autonomous body for the promotion and development of small
farmers’ agri-business activities. Such a body would be funded by
institutions such as the RBI, NABARD, IDBI and the like. It was
much clear that the Consortium’s membership would include inter-alia,
various Development Banks, Public Sector Corporations, Private
Sector Companies, Scientific Institutions, besides Farmers’
Associations.
The SFAC was envisaged as a catalytic/facilitating agent to
promote the type of activities enumerated on the principles of
economic efficiency, environmental soundness and social equity, so
that the country began a new chapter in its agricultural history,
where farm enterprises would yield not only more quality products
but also more productive jobs and higher income in rural areas. |
