In a commendatory letter addressed to Smt. Nirmala Sitharaman, Finance Minister, Vineet Nahata, Chairman of the PHD Taskforce on Co-operatives, expressed deep appreciation for the various measures announced in the recent budget for the benefit of the cooperative sector.
Nahata lauded the visionary steps and proactive measures undertaken by the Government of India in implementing rural development plans, with a specific focus on the cooperative sector.
He highlighted the progress made in the establishment of Primary Agricultural Credit Societies (PACS) in collaboration with NABARD, emphasizing the government’s commitment to rural development.
“The PHD Chamber, on behalf of its members, commended the strategic collaboration with NABARD for the establishment of PACS, noting the potential to significantly enhance agricultural practices and empower rural communities”, he says.
Special mention was made of the initiatives by the National Dairy Development Board (NDDB) and the ongoing efforts to establish viable dairy units through Multi-purpose PACS (M-PACS).
Nahata praised the collaborative efforts with District Cooperative Banks and the Registrar of Cooperative Society, underscoring a coordinated strategy towards fostering cooperative growth.
In the domain of fisheries, the action plan for the formation of 12,000 primary fisheries cooperatives and the revitalization of existing ones were deemed commendable steps toward the economic empowerment of fishing communities.
The letter acknowledged the meticulous monthly plan of activities in the 13 maritime States/UTs, emphasizing sustainable development in coastal fishing villages. The PHDCCI expressed gratitude for the dedication and tireless efforts of the Ministry of Cooperation in finalizing these plans.
Nahata concluded the letter by expressing confidence that these visionary initiatives will bring about positive and lasting changes, fostering economic growth and prosperity in the cooperative sector.