According to media sources, Union Minister of Cooperation Amit Shah today dedicated more than ten thousand newly established multipurpose primary agricultural cooperative societies, dairy, and fisheries cooperatives to the nation. Mr. Shah also distributed registration certificates, RuPay Kisan Credit Cards, and micro ATMs to the newly formed cooperative societies at a function in New Delhi. These financial tools are designed to provide easy access to credit services in Panchayats and promote financial inclusion.
Speaking on the occasion, Mr. Shah said the Modi government is giving new strength to the rural economy by promoting cooperatives. He said the government will set up two lakh primary agricultural credit societies (PACS) much ahead of the target of five years.
The minister explained that primary cooperative societies are the foundation of India’s three-tier cooperative structure, which is why the Centre has set an ambitious target to establish 2 lakh new PACS. He said that through these initiatives, farmers’ produce will easily reach the global market. He highlighted that one of the most significant initiatives after the establishment of the Ministry of Cooperation was the computerisation of all PACS. He added that this modernisation has enabled the integration of PACS with 32 diverse activities, including storage, manure, gas, fertiliser, and water distribution.
The Cooperation minister stated that every primary dairy will soon be equipped with a Micro-ATM as part of the ongoing campaign. These tools will enable farmers to access low-cost loans, facilitating financial inclusion and support. Mr Shah highlighted that the expansion of PACS is guided by four key principles – visibility, relevance, viability, and vibrancy.
The minister also highlighted that when infrastructure was not being prioritised in the country, former Prime Minister Atal Bihari Vajpayee launched the Swarnim Chaturbhuj Marg.
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