The National Cooperative Union of India (NCUI) put forward a series of recommendations during pre-budget consultations, aiming to deepen the integration of cooperatives within key economic sectors through public-private partnerships.
NCUI’s proposals focus on leveraging cooperatives’ extensive grassroots networks to enhance service delivery in agriculture, healthcare, education, and community infrastructure development.
By fostering closer collaboration between the public and private sectors and cooperatives, these initiatives aim to capitalize on the unique position of cooperatives to address local and regional developmental needs effectively, claimed an NCUI official.
In addition to promoting public-private partnerships, NCUI underscored the critical need to support emerging cooperative enterprises through the creation of specialized incubators. These incubators would serve as vital resources, providing young entrepreneurs with workspace, training, mentorship, and networking opportunities, crucial for nurturing the growth and scalability of cooperative startups.
NCUI also advocates for the establishment of a dedicated fund aimed at supporting cooperative startups led by the youth, particularly in the agri-business sector. This fund would provide essential seed capital along with ongoing mentorship and technical assistance, designed to help these startups thrive and expand.
The NCUI’s policy recommendations extend beyond startup support, highlighting the need for substantial investment in agro-processing and food packaging units, which could be facilitated through grants, low-interest loans, and tax incentives.
By encouraging the development of these sectors, NCUI aims to enhance value addition in agricultural products, thus increasing profitability and sustainability for farmers and cooperatives alike.
Further recommendations include the promotion of bioenergy projects, such as the production of biogas and bioethanol from agricultural waste, presenting an eco-friendly solution to energy production while also managing agricultural waste effectively.
NCUI also sees significant potential in developing agritourism, which would not only help in preserving rural and agricultural traditions but also in creating new income streams for farmers through tourism.
Addressing the financial infrastructure for cooperatives, NCUI suggests enhancing the capital base and technological capabilities of cooperative banks. This enhancement would allow them to offer a wider range of financial services, including insurance, microcredit, and digital banking solutions, thus improving financial inclusion for rural populations.
Lastly, NCUI calls for the implementation of cooperative-friendly public procurement policies that prioritize cooperatives in government contracting to encourage local development and economic growth. They also propose the establishment of a cooperative depositors’ insurance scheme under the Reserve Bank of India’s oversight, providing a safety net for depositors in agricultural credit cooperatives and cooperative banks.
“These comprehensive measures proposed by NCUI are envisioned not only to enhance the incomes of millions of cooperative members but also to make a robust contribution to the broader national economy. Through continued emphasis on cooperative education and training, NCUI remains committed to strengthening the cooperative movement across India”, claimed NCUI President Dileep Sanghani to the Indian Cooperative.
