The Meghalaya Cabinet has approved the establishment of the Meghalaya Livelihood Investment Financing Cooperative Society to strengthen financial support for farmers and cooperatives.
The new body will function as a financial institution, providing funding and working capital to farmer groups and processing units, with a focus on agriculture and food processing.
Chief Minister Conrad K Sangma said improved financial accessibility would help ensure timely payments to farmers and promote value-added production, which holds strong growth potential over the next few years.
The Cabinet also approved a minor amendment to the Meghalaya Planning Service Rules as part of routine administrative measures.