NCDC played a key role in the launch of the first cooperative taxi service – Shah
The Sunday Mail
New Delhi. Union Home and Cooperation Minister Amit Shah addressed the 92nd General Council meeting of the National Cooperative Development Corporation (NCDC).
Shah said that NCDC has emerged as a strong medium for empowering cooperatives and providing them financial assistance.
Cooperation Minister Mr. Shah emphasized the need to promote a circular economy in the sugar mills and dairy sector, which will directly benefit farmers.
Mr. Shah said that NCDC played a key role in launching the country’s first cooperative taxi service; This will greatly benefit drivers.
In the last few years, NCDC’s financial assistance to cooperatives has increased nearly fourfold to ₹95,200 crore.
With NCDC’s support, 1,070 FFPOS have been strengthened; work is underway on 2,348.
Mr. Shah called for special attention to dairy, livestock, fisheries, and women’s cooperatives: NCDC will allocate ₹20,000 crore.
NCDC is promoting the blue economy: Women have become economically empowered by the provision of deep-sea fishing trawlers.
NCDC expands its network by opening new offices in Jammu and Kashmir, Ladakh, and the Northeast.
Union Home and Cooperation Minister Shri Amit Shah addressed the 92nd General Council meeting of the National Cooperative Development Corporation (NCDC) in New Delhi today. He said that since the formation of the Ministry of Cooperation under the leadership of Prime Minister Shri Narendra Modi, the cooperative sector has seen unprecedented progress, and NCDC has emerged as a key pillar of this transformation. Shri Shah stated that the government is committed to bringing positive change in the lives of farmers, rural families, fish farmers, small producers, and entrepreneurs through the cooperative movement, and that cooperatives are playing a crucial role in the country’s efforts to become self-reliant.
In his address, Union Home and Cooperation Minister Shri Amit Shah said that the total disbursements of NCDC, established with the objective of empowering cooperatives and providing them financial assistance, have increased from ₹24,700 crore in the financial year 2020-21 to ₹95,200 crore in the financial year 2024-25. In the last three years, NCDC has taken significant steps to strengthen the cooperative sector and has established new dimensions of financial inclusion, innovation, and expansion, for which NCDC officers and employees deserve commendation.
Shri Shah said that cooperatives are the best model for making India a developed economy, as they ensure participation and livelihoods in rural areas. Over the past four years, NCDC has achieved a compound annual growth rate of over 40 percent, maintained zero net NPAs, and achieved a record net profit of ₹807 crore, strengthening the organization’s credibility and reputation. NCDC, through DCCBs, State Cooperative Banks, and State Marketing Federations, has performed effective work in the areas of dairy, food processing, textiles, and marketing.
The efforts being made to treat PACS as Farmer Producer Organizations (FPOs) are ensuring farmers receive fair returns on their produce and promoting community benefits over individual gain.
The collaboration between BBSSL and PACS has assisted farmers in both production and marketing. Multi-state cooperatives such as National Cooperative Exports Limited (NCEL), Indian Seed Cooperative Society Limited (BBSSL), and National Cooperative Organic Limited (NCOL) are committed to promoting organic farming, organic production, and exports since the Green Revolution.
In the fisheries sector, NCDC has achieved the target of establishing and strengthening 1,070 FFPOs, and work is underway to strengthen 2,348 FFPOs under the Pradhan Mantri Matsya Kisan Samriddhi Yojana. Financial assistance provided for the purchase of deep-sea fishing trawlers in Maharashtra and Gujarat has boosted the blue economy and economically empowered the fishing community, especially women. Shri Shah said that the circular economy should be encouraged in the sugar and dairy sectors for greater profitability. Based on a grant of Rs. 1,000 crore provided by the government for the modernization of cooperative sugar mills, NCDC has disbursed over Rs. 10,000 crore to 56 sugar mills for ethanol plants, co-gen, and working capital, providing them with alternative income sources and access to credit at lower rates.
