Ministry of Cooperation
Capital Expenditure for Cooperatives
Posted On: 18 DEC 2024 5:15PM by PIB Delhi
The Government has taken several initiatives to enhance infrastructural development for efficient functioning of cooperatives, including the following:
- Computerization of Primary Agricultural Credit Societies (PACS) which entails bringing all functional PACS in the Country onto a common ERP based national software, linking them with NABARD through StCBs and DCCBs which help in improving the operational efficiency of PACS, ensuring speedy disbursal of loans, lowering of transaction costs, increasing transparency and farmers’ trustworthiness in PACS operations.
- Computerization of Agriculture and Rural Development Banks (ARDBs) which help in improving the operational efficiency of ARDBs, bring uniformity in accounting practices and core aspects of the systems followed in lending, recovery and raising resources, and aid in their business expansion.
- Computerization of RCS office helps in increasing ‘Ease of doing business’ for Cooperative Societies and creates a digital ecosystem for transparent paperless regulation in all the States/ Union Territories
- World’s Largest Grain Storage Plan in Cooperative Sectorentails creation of various agri infrastructure at Primary Agricultural Credit Societies (PACS) level, including godowns, custom hiring center, processing units, etc. through convergence of various existing schemes of the Government of India (GoI), such as, Agriculture Infrastructure Fund (AIF), Agricultural Marketing Infrastructure Scheme (AMI), Sub Mission on Agricultural Mechanization (SMAM) Pradhan Mantri Formalization of Micro Food Processing Enterprises Scheme (PMFME), etc., which helps in providing market linkages to PACS to realize better prices for their crops, reducing post-harvest losses and ensuring food security.
Majority of the allocations made to the Ministry are utilized through the State Governments. From the initial programme launching stage, the pace of utilization of funds provided by this Ministry to States/ UTs has picked up in most of the States/ UTs.
The National level committee has submitted its report on National Cooperation Policy to the Government.
This was stated by the Minister of Cooperation, Shri Amit Shah in a written reply to a question in the Rajya Sabha.
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RK/VV/ASH//RR/PR/PS/2569
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