A primary agricultural co-operative credit society at Somarasampettai near Tiruchi. file | Photo credit: The Hindu
In a bid to strengthen the cooperative sector, the Union Cabinet on Wednesday approved setting up of new Primary Agricultural Credit Societies (PACS) and dairy-fish cooperatives in unregistered villages and panchayats. It will be implemented over a period of five years.
25 types of facilities will be provided through them. Dairy and fisheries will also be linked to agricultural cooperatives.
are currently around 63,000 functional PACS in country.
The cabinet approved steps to strengthen the cooperative movement in the country and deepen its reach to the grassroots level.
The plan is to set up PACS in every left out panchayat, viable dairy cooperative societies in every non-panchayat panchayat/village and viable fish cooperative societies in every coastal panchayat/village as well as panchayat/village with large water bodies.
Information and Broadcasting Minister Anurag Thakur told the cabinet briefing that the initial target is to set up 2 lakh multipurpose PACS/dairy/fish cooperatives in the next five years.
The scheme will be implemented with convergence of various schemes by leveraging the ‘Whole of Government’ approach. The proposal will enable the cooperatives to set up and modernize the necessary infrastructure.
It will provide necessary forward and backward linkages to the farmer members and increase their income. This step will also help in generating employment opportunities in rural areas.
In June last year, the Cabinet Committee on Economic Affairs had approved the computerization of PACS to bring transparency and accountability in their operations along with increasing their efficiency. Computerization will help PACS to diversify their business and start many activities/services.
Around 63,000 functional PACS are being computerized with a total budget outlay of Rs 2,516 crore, which includes a central share of Rs 1,528 crore.
(With inputs from PTI)