Consider the following statements The participation organisation and membership pattern of farmers r...........

Rajasthan Economy

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Consider the following statements:

The participation, organisation and membership pattern of farmers’ producer organisations are more or less similar to the cooperatives.
Their day-to-day functioning and business models resemble those of the professionally-run private companies.

Which of the above statements is/are correct?

1 only

2 only

Both

None

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Explanation:

Farmers’ Producer Organisation (FPO)

Farmers’ Producer Organisation (FPO), also known as farmers’ producer company (FPC), is an entity formed by primary producers including farmers, milk producers, fishermen, weavers, rural artisans, and craftsmen.

An FPO can be a Producer Company, a Cooperative Society or any other legal form.

FPOs are basically the hybrids of cooperatives and private companies.

The participation, organisation and membership pattern of these companies are more or less similar to the cooperatives.

But their day-to-day functioning and business models resemble those of the professionally-run private companies.