In order to convert Pune-based Vamnicom into a full-fledged institution, a separate budget has been provided to Vamnicom in the Union Budget 2022-23, presented by the Union Finance Minister on Tuesday in Parliament.
Earlier its budgetary requirements were being met through the Grants-in-aid released to NCCT. Talking to Indian Cooperative Vamnicom Director Hema Yadav said, “For the first time, a separate budget has been allocated to our institution which is a welcome step. It has been possible only with the creation of a new ministry by the Central Government”.
It is to be noted that the government used to provide Rs 11 crore Grants-in-aid to Vamnicom to meet the establishment cost and other financial requirements and the fund was being routed through National Council for Cooperative Training (NCCT). But from next financial year, it will be directly given by the Ministry of Cooperation to Vamnicom.