National Gene Fund, Farmers Rights, Monetary Resources, Plant Breeders, Biodiversity Bill, Genetic Resources, Economic Plants

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	National Gene Fund In order to implement the concept of Farmers' Rights, PPV and FRA provides for another unique concept of establishing a 'National Gene Fund'. This fund will draw its monetary resources from the following:
(i) the money received from commercial plant breeders for benefit sharing; (ii) money received as annual royalty payable by seed companies; (iii) money received as compensation for rewarding communities; (iv) financial contribution from any national and international organization or similar other sources. The above Fund will be used for financial reward to any farmer, who is 'engaged in the conservation of genetic resources of land races and wild relatives of economic plants, and in their improvement through selection and preservation'. Such farmers will have to make an application to the Fund in this regard. There is also a provision in the Act that if any person, a group of people, a firm, or a government or non-government organization (NGO) feels that it has also contributed to the development of a variety, it can also submit its claim for benefit sharing.
Biodiversity Bill 2002 In December 2002, a Biodiversity Bill was also approved by both houses of Parliament it will be notified and implemented during 2003.