The Indira Gandhi National Open University (IGNOU) signed a memorandum of understanding (MoU) with the Institute of Cost Accountants of India (ICMAI), on Tuesday, April 25, to develop an open and distance learning diploma programme in agricultural cost management.

As per an official statement, the diploma aims to create awareness and human resources in agricultural cost management by imparting knowledge, skills, and entrepreneurial capabilities to farming communities.

The MoU between the two institutes was signed by Dr Alok Chaube, Registrar (Administration) of IGNOU and CMA Vijender Sharma, President of ICMAI, as per a PTI story.

The programme is expected to benefit farmers, youths, small and medium entrepreneurs, extension workers, NGO functionaries/trainers, members of cooperative societies and self-help groups, among others.

IGNOU Professor SK Yadav said there is a need to educate the farmers and other target groups about cost management in the agriculture profession.

Meanwhile, IGNOU added the diploma programme will be useful not only for farmers but also for policymakers.

"The MoU will be a path-breaking initiative for empowering the farmers. Different universities/institutions will be interested in enrolling their students for this programme. This programme will benefit the farmers, rural youth, professionals in the agriculture field and others involved in agriculture and allied professions," IGNOU said.