In a landmark decision aimed at strengthening the cooperative ecosystem, the first Krishi Cabinet meeting chaired by Mohan Yadav approved major financial allocations to support agriculture and cooperative institutions across Madhya Pradesh.
The Cabinet cleared proposals worth Rs 27,500 crore for agriculture development and irrigation projects. Of this, Rs 25,678 crore has been sanctioned for farmer welfare schemes. Significantly, Rs 1,975 crore was approved under the “Share Capital Assistance to Cooperative Banks” scheme, reinforcing the financial strength of cooperative credit institutions.
Additionally, Rs 3,909 crore was sanctioned for interest subsidy on short-term crop loans to farmers, largely routed through cooperative banks. To ensure efficient functioning of cooperative institutions, Rs 1,073 crore was approved, along with Rs 1,229 crore for various cooperation-related schemes.
The Chief Minister announced that during the “Farmer Welfare Year,” Krishi Cabinet meetings will be organized in every region of the state. The decisions underline the government’s focus on empowering cooperative banks as key drivers of rural credit and agricultural growth.