Union Minister of Agriculture and Cooperation Radha Mohan Singh said ”the Central Government has taken concrete steps to strengthen cooperatives so that they are economically viable. I want to see them as dynamic democratic organizations with actively participating members”, he said.
Singh said by doing so, cooperative societies will be able to withstand the competitive global economy. Cooperatives have an important role to play in developing rural economy and increasing jobs in the agricultural sector, Singh underlined.
The Minister appealed to the people involved in the cooperative movement to build and strengthen cooperatives so that the interests of farmers and the vulnerable sections of society are protected.
He was addressing the 96th Annual Conference of Kota Co-operative Societies in Kota, Rajasthan on Sunday. Singh appreciated the Kota Co-operative Society and praised its achievements and hoped that “one for all, all for one” spirit will continue to be the guiding philosophy for them.
He lauded the role of NCDC and Nabard and said many cooperatives get fund from the NCDC so that they can create employment for the needy.
Praising the role being played by NABARD he said it helps groups of farmers and agriculture producers get cheap agricultural loans from banks. Till January 2016 across the country 14.43 lakh joint liability groups were formed and by March 2016, NABARD has set up approximately 2424 producer groups, he underlined.
Making a comparison with the UPA Govt the Minister said from April 2005 to March 2014, Rs. 6775 crore were spent whereas, the new Government has, from April 2014 until December 2015, extended Rs.7084 crore as financial assistance to joint liability groups.
Minister, however, admitted there is imbalance in the availability of credit to the agriculture sector and small and big farmers. Credit availability per capita in the region is much lower than in other regions. The National Sample Survey Organisation (NSSO) survey says 46 percent of farming households are burdened by debt and the loans are from different institutions, Singh said.
