NCUI welcomes Budgetary pledge of strengthening co-ops

National Cooperative Union of India (NCUI), an apex organization of the Cooperative Movement with focus on cooperative education and training has welcomed the government’s commitment to the development of multi-state cooperatives by providing all support to them in this year’s Budget.

NCUI Chief Executive, Satya Narayana said, “The proposal to set up a separate administrative structure for multi-state cooperative societies will definitely strengthen these cooperatives to compete in the market economy. Such structural reforms are necessary so that these cooperatives become success stories.

NCUI feels that enhancement of agricultural credit target to 16.5 lakh crore FY 22 is indeed heartening as this will provide cooperative credit institutions to cover a large section of the rural population, and most importantly, the dairy and fishery cooperatives will be benefitted by this.

Similarly, NCUI feels that enhancing the allocation to rural infrastructure development funds from Rs 30,000 crores to 40000 crores will definitely be beneficial for primary agriculture cooperatives.

Elaborating further Satya Narayana says, ‘At present PACS due to poor warehousing capacities are not able to market the produce of the poor farmers due to which they are not able to get a fair price for their produce. NCUI has long been championing the cause of strengthening PACS. The increased allocation to this fund is always welcome’, he said.

NCUI also welcomes 10 % import duty on cotton, imposition of cess on petrol, diesel, etc, extension of the Swamitva scheme, increase of Micro Irrigation Fund by another 5,000 crore, availability of Agriculture Infrastructure Fund to APMCs for augmenting their infrastructure facilities, emphasis on seaweed farming etc.

The Chief Executive concluded ‘Cooperatives can diversify well in the field of seaweed farming, and create employment opportunities for youth.’