NABARD & NCDC play central role in rural economy: Amit Shah

Responding to a question at the Rajya Sabha on Wednesday, Cooperation Minister Shri Amit Shah said in a writing that the cooperative sector plays a pivotal role in boosting the rural economy.

Agricultural cooperative lender NCDC has disbursed financial assistance of more than Rs 34,000 crore in the financial year 2021-22 across the country including rural areas, Shah said in his response.

The amount of aid has increased from Rs 24,733 crore as of March 31, 2021 to Rs 34,221 crore in the financial year 2021-22. The said figures were shared by Union Home and Cooperation Minister Amit Shah while answering the question posed by Geeta alias Chandraprabha to Rajya Sabha on Wednesday.

“Financial assistance under various programs is provided to the cooperative sector through central and state governments, the National Bank for Agriculture and Rural Development (NABARD), the National Cooperative Development Corporation ( NCDC) and other institutions,” Shah informed.

The Union Cooperation Minister further stated that the cooperative sector plays a pivotal role in strengthening the rural economy. Cooperative societies engaged, in particular, in the rural sector such as agriculture, fishing, agro-industry, dairy supply credits, agricultural inputs and marketing of milk, fish, vegetables, fruits , flowers, medicinal plants, forest products, honey and resham etc.

While direct employment is provided by the relevant Cooperative Societies, strengthening the entire Cooperative sector ecosystem generates huge indirect employment opportunities in the rural sector.

Bearing this in mind, the government has taken many initiatives, including the preparation of a new national cooperation policy, the consolidation of a national database on cooperatives, the preparation of the Sahakar se Samriddhi program, the computerization of existing Primary Agriculture Cooperative Societies (PACS) and the launch of stakeholder consultation for the bye model. laws for multi-purpose, multi-service PACS making these companies multi-dimensional and more economically viable units, Shah’s response concluded.

About Keneth T. Graves

Check Also

Peripheral hamlet lit by solar energy; Boosting the rural economy

After being in darkness for the past 80 years, an outlying tribal hamlet of Sarkhipara …