Co-operators call it a pro-people budget; laud focus on basic unit- PACS

Several prominent co-operators of the country have reacted to the Union Budget, calling it largely pro-people. They have applauded the budget’s emphasis on PACS computerization and the initiative to modernize the offices of cooperative registrars across India.

However, some leaders expected greater focus on cooperative education and training, a cornerstone for the cooperative growth of the country—Editor

Excerpts

Dileep Sanghani, President, NCUI

The Union Budget 2025-26 outlines a visionary roadmap for strengthening India’s agricultural and cooperative sectors in this International Year of Cooperatives. The Mission for Aatmanirbharta in Pulses, supported by NAFED and NCCF’s procurement commitments, will ensure fair prices for farmers and bolster cooperative procurement. The establishment of the Makhana Board in Bihar aims to enhance production, processing, and marketing, benefiting cooperative societies and 5 lakh farm families.

Bharatiya Beej Sahakari Samiti Limited will aid the National Mission on High-Yielding Seeds, while the Comprehensive Programme for Vegetables & Fruits will boost production, supply chain efficiency, and fair pricing through cooperatives and FPOs. Enhanced financial support includes raising Kisan Credit Card loan limits from Rs 3 lakh to Rs 5 lakh and strengthening NCDC.

The Prime Minister Dhan-Dhaanya Krishi Yojana in 100 districts will promote farmer cooperatives, while a new fisheries framework in the EEZ and High Seas will support cooperative-led marine management. This budget reaffirms cooperatives as key to India’s economic development.

What I regret is the lack of support for NCUI’s focus on education and training. NCCE, which has done a remarkable job so far, has not received any budgetary support.

Dr Chandra Pal Singh, President ICA AP

I welcome the budget for the overall emphasis it has placed on the welfare of the middle class. Many new initiatives have been launched by the ministry, and the Union Budget has supported them with budgetary provisions. The efforts to computerize PACS have received a further boost through this budget.

I also welcome the increase in KCC limits to Rs 5 lakh. While there are always some areas that remain unfulfilled, overall, it’s a pro-people budget.

Dr U S Awasthi, MD, IFFCO 

Finance Minister Ms. Nirmala Sitharaman Ji has stated that agriculture will be the engine of growth for the country. She presented a very progressive Agri Budget, focusing on farmers, youth, and women in agriculture.

The Dhan Dhanya Krishi Yojna will target 100 districts with low productivity, emphasizing crop diversification, irrigation, and agri-credit to assist 1.7 crore farmers. The country aims to become self-reliant in pulses and edible oils. Additionally, short-term loans under KCC will increase up to Rs 5 lakh, benefiting more than 7.7 crore farmers. This is a welcome budget for agriculture.

Jyotindra Mehta, Chairman, NUCFDC 

This budget is for the middle class, representing the majority of the population. It begins with a focus on agriculture and cooperatives, particularly helping SHGs (Self-Help Groups). The middle class will benefit from income tax savings, as the basic exemption limit has been increased. As the Honorable Prime Minister mentioned, cooperatives will now receive the same treatment as corporate entities.

The budget also addresses the needs of SHG members, in line with the vision of the Honorable Home and Cooperation Minister, promoting ‘Sahakar se Samruddhi’ (prosperity through cooperation).

Konduru Ravinder Rao, Chairman, Nafscob

The Union Budget 2025-26 presents a mixed bag of reforms. While individual taxpayers benefit from income tax exemptions up to Rs 12 lakh, higher TDS thresholds, and relaxed rules for homeowners, the cooperative sector, particularly Urban Cooperative Banks, finds little relief. Business incentives and infrastructure spending continue.

The removal of TCS on education loans eases financial strain for students studying abroad. Extending the window for updated returns improves tax compliance. Overall, the budget focuses on simplifying taxation and boosting savings.

Dollar Kotecha, Chairman, NAFCARD

Finance Minister Nirmala Sitharaman’s Union Budget for 2025-26 places significant emphasis on agriculture and rural development. Initiatives like the PM Dhan Dhanya Krishi Yojana, which will benefit 1.7 crore farmers, highlight the government’s commitment to empowering rural India.

Kotecha commended the increased Kisan Credit Card limit to Rs 5 lakh, the introduction of climate-resistant seeds, and the establishment of the Makhana Board in Bihar, all aimed at creating sustainable livelihoods.

He also praised efforts to generate rural jobs, reduce migration, and foster growth in niche sectors like pulses and Makhana. Kotecha concluded that this budget is a transformative step toward self-sufficiency and a prosperous future for India’s farmers.

Laxmi Dass, President, NAFCUB 

We welcome the relief provided to individuals in the Union Budget for 2025-26.

D N Thakur, Patron, Sahakar Bharati 

This budget has given adequate attention to improving the condition of the gaon, garib, and kisan. It makes it clear that the path to a developed India (Viksit Bharat) must pass through its villages, ensuring the improvement of the quality of life for all citizens in a fair and equitable manner.

The cooperative sector will naturally receive a boost, as these are the most appropriate and viable institutions for on-the-ground delivery. This is a people-centric and development-oriented budget. I personally believe it will be appreciated by everyone across the country.