Yogi’s budget follows Centre’s footsteps; announces sops for co-ops

Tabling the UP Budget 2023-24 in the state legislative assembly, Uttar Pradesh Finance Minister Suresh Kumar Khanna on Wednesday proposed an allocation of Rs 100 crore for the financial strengthening of District Central Cooperative Banks.

Besides, Rs 175 crore has been proposed for the advanced storage of chemical fertilizers. The loan worth of Rs 7,556 crores has been disbursed during the 2021-22 financial year, which benefitted 18.76 lakh farmers, he informed.

“Whereas, by disbursing loans worth Rs 6936 crore in the 2022-23 FY till 30-11-2022, 15.14 lakh farmers benefitted”, announced Khanna while presenting the budget.

Reacting to the budget, Uttar Pradesh State Cooperative Bank Chairman Tejveer Singh said, “We welcome the budget, especially the announcements made to strengthen the cooperative sector. The budget proposed Rs 100 crore for the strengthening of DCCBs is a praiseworthy move”.

“It will surely help the weak DCCBs in the state to strengthen themselves. The financial conditions of DCCBs falling in eastern Uttar Pradesh are not good. Besides, the fund allocation for advanced storage of chemical fertilizers will help the farmers in a big way”, said Singh to the Indian Cooperative correspondent on phone.

In the budget for the agriculture sector, several announcements were made including Rs 20 crore for the Agriculture Accelerator Fund to encourage young entrepreneurs to set up agritech startups in rural areas.

The budget proposed Rs 50 crore for the establishment of Mahatma Budh Agriculture and Technology University in Kushinagar and Rs 35 crore for infrastructure works in agriculture universities of Kanpur, Ayodhya, Banda and Meerut.

For strengthening the dairy sector, the budget proposed Rs 86.95 crore for reviving the existing milk unions and Rs 61.21 crore for the implementation of Nand Baba Milk Mission. Rs 60 crore for dairy projects in Meerut and Varanasi districts has also been allocated.

For the fishery sector, Under PMSSY, provisions of Rs 257.50 crore have been made for the wholesale fish market. Besides, for Pradhan Mantri Formalization of Micro Food Processing Enterprises Rs 257.50 crore and Rs. 207.27 crore for National Horticulture Mission.

It is learned that there are 50 DCCBs in the state out of which 17 banks are not in good financial condition.