Economy India

A New cooperative policy is anvil

To facilitate ease of doing business for cooperatives in various sectors and deepening its reach to the grassroots across the country, the Ministry of Cooperation since its formation in July, 2021 has taken various initiatives such as:

  1. Computerization of PACS: Process to onboard 63,000 functional PACS on an ERP based common national software with an outlay of ?2,516 Crore started.
  2. Model byelaws for PACS: Model byelaws prepared and circulated for their adoption as per the respective State Cooperatives Act to enable PACS to undertake more than 25 business activities like dairy, fishery, setting up of godowns, LPG/ Petrol/ Green energy distribution agency, banking correspondents, CSC, etc.
  3. PACS as Common Service Centres (CSC): MoU signed between Ministry of Cooperation, Ministry of Electronics and Information Technology, NABARD and CSC -SPV to facilitate functioning of PACS as CSCs to improve their viability, provide e-services at village level and generate employment.
  4. National Cooperative Database: Preparation of an authentic and updated data repository of cooperatives in the country started to facilitate stakeholders in policy making and implementation.
  5. National Cooperative Policy: A National level committee comprising of experts and stakeholders drawn from all over the Country constituted to formulate the New Cooperation Policy to create an enabling ecosystem to realize the vision of ‘Sahakar-se-Samriddhi’.
  6. Amendment of MSCS Act, 2002: Bill introduced in the Parliament to amend the centrally administered MSCS Act, 2002
  7. National Cooperative Development Corporation: New schemes for cooperatives launched by NCDC in various sectors such as ‘Swayamshakti Sahkar’ for SHG; ‘Deerghavadhi Krishak Sahkar’ for long term agricultural credit; ‘Dairy Sahkar’ for dairy and ‘Neel Sahkar’ for fisheries. Total financial assistance of Rs. 34,221 Crores disbursed in FY 2021-22.

8. Member Lending Institutions in Credit Guarantee Fund Trust: Non-scheduled UCBs, StCBs and DCCBs notified as MLIs in CGTMSE Scheme to increase share of cooperatives in lending. 9. Cooperatives as ‘buyers’ on GeM portal

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