NAFSCOB- chairman and veteran cooperator from Gujarat Dileepbhai Sanghani has hailed the Union Budget presented by Finance Minister Arun Jaitley and said the move to extend the credit limit for farmers is commendable.
Sanghani also welcomed the decision to enhance the coverage of Pradhan Mantri Fasal Bima Yojana with a sum of 9,000 crore for 2017-18. The initiative taken by the Modi government for the introduction of new scheme is also praiseworthy, he added.
Readers would recall that at the time of demonetization when district central cooperative banks were not allowed to accept specified bank notes as deposits and also not authorized to exchange the demonetized notes, Sanghani had strained very nerve to tackle the situation.
A copy of the letter received from the NAFSCOB Chairman’s office reads “Government is committed to support NABARD on computerization and integration of all 63,000 functional Primary Agriculture Credit Societies (PACS) with the Core Banking System of District Central Cooperative Banks, this announcement will give strengthen to the cooperative movement of India”
The Long Term Irrigation Fund has already been set-up in NABARD and the Prime Minister has announced additional Rs 20,000 crores to its corpus which will spike the fund to Rs 40,000 level. This will benefit farmers in a big way, according to the letter.