By Dileep Sanghani
I would like to extend my heartfelt appreciation to the NDA government under the leadership of our Hon’ble Prime Minister, Shri Narendra Modi, for the visionary Indian Budget 2024-25. This budget is a testament to the government’s commitment to fostering growth and development across all sectors, including the cooperative sector.
The allocation of Rs. 1.52 lakh crore to boost productivity in the agriculture sector is a significant step towards transforming our agricultural landscape. This investment will directly benefit cooperative societies engaged in agriculture, providing them with enhanced resources, support, and market access. The certification of 1 crore farmers for natural farming, the establishment of 10,000 bio-input centres, the creation of digital public infrastructure for agriculture, crop surveys of Kharif crops in 400 districts, and the strategic focus on vegetables and oilseeds will collectively propel the agriculture sector towards self-reliance. These initiatives will directly benefit cooperative societies engaged in agriculture, especially Primary Agriculture Credit Societies (PACS), providing them with enhanced resources, support, and market access, ultimately empowering our farmers and promoting sustainable farming practices.
According to budgetary provision, it is good that Nano DAP will be used for a variety of products. I thank PM Modi Ji to give due recognition to IFFCO’s nano products in this year’s budget.
It is good that the budget has given emphasis on promoting cooperatives for vegetables and oilseeds such as mustard, groundnut, soyabean, etc. which will provide opportunities to cooperatives in production, storage, and marketing. As cooperatives have a wide network and reach, they can play an important role in making supply chain efficient by reducing wastage of fresh produce that ranges between 20 to 35 %. Cooperatives can play an important role in getting farmers a fair price of their produce so that they don’t depend on corporates. The NCUI, in collaboration with the State Cooperative Unions/Federations, will take proactive efforts in developing these vegetable and oilseed clusters through the cooperative model.
As a cooperator, I, along with all my fellow cooperative leaders, we are proud to see the government’s commitment to introducing a new National Cooperation Policy, as evidenced by the announcements in this year’s budget. The ‘National Cooperation Policy’ is a monumental step that will strengthen the cooperative movement and extend its reach at the grassroots level. This policy will provide a robust framework for the development and regulation of cooperatives, ensuring their sustainability and growth. It underscores the government’s commitment to promoting a cooperative-based economic model that encourages inclusivity, equity, and shared prosperity.
I am confident that the various initiatives of the Ministry of Cooperation will position cooperatives as the main source of employment generation in our country. Efforts to strengthen Primary Agricultural Credit Societies (PACS) in rural areas have already created numerous job opportunities. With this policy, I foresee the emergence of many rural entrepreneurs who will leverage the cooperative model for sustainable development and economic empowerment in the near future.
In addition to these, there are many other announcements where cooperatives can play a direct and indirect role, such as the “development of 63,000 villages of the tribal community through the PM Janjati Unnat Gram Abhiyan” is a commendable initiative. Cooperatives will play a crucial role in this mission, leveraging their presence in rural areas to drive socio-economic progress. This will enhance the livelihoods of tribal communities and ensure that development benefits reach every corner of our nation.
Similarly, the ‘Purvodaya’ scheme, announced in this budget for Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh, will give new energy to infrastructure, human resources, employment, and economic development in these regions. For cooperatives, this means more opportunities to contribute to and benefit from regional development projects, enhancing our role in local economies.
Most importantly, the government’s commitment to empowering “Nari Shakti” is evident in the allocation of more than Rs. 3 lakh crore to promote women-led development. Setting up hostels and crèches for working women, increasing market access for women self-help group entrepreneurs, raising the Mudra loan limit, and encouraging states to reduce stamp duty on properties purchased by women will significantly benefit women in cooperatives, empowering them to take on leadership roles and expand their businesses.
Thus, the Indian Budget 2024-25 sets the stage for a robust and resilient cooperative movement. It aligns with the vision of ‘Sahakar-Se-Samruddhi’, driving sustainable development and inclusive growth across the nation. We are committed to working hand in hand with the government to realize these ambitious goals.
-Dileep Sanghani, NCUI President
