INDUSTRY
Amit Shah launches 10,000 multi-purpose primary agricultural cooperative societies
- IBJ Bureau
- Dec 26, 2024
Cooperation Minister Amit Shah launched 10,000 new multi-purpose primary agricultural cooperative societies (PACS) on Wednesday and asserted that the government would achieve its target of establishing 2 lakh such societies before the five-year timeline.
Addressing the launch event, Mr Shah said that prosperity through cooperation cannot be achieved unless cooperatives function effectively at the panchayat level.
“We have kept a target of setting up 2 lakh PACS in five years. I want to tell you that we will establish 2 lakh PACS before five years. In three months, we established 10,000 new PACS,” the minister said.
The initiative will be rolled out in two phases, with NABARD establishing 32,750 new PACS in the first phase, while NDDB will set up 56,500 dairy cooperatives and NFDB 6,000 fishery cooperatives.
In the second phase, NABARD will create 45,000 PACS, NDDB will establish 46,000 dairy cooperatives and NFDB 5,500 fishery cooperatives. State governments will form about 25,000 new cooperatives, he added.
Mr Shah also released standard operating procedures (SOP) for liquidation of defunct PACS, which will enable setting up of new societies in 15,000 villages.
Under current norms, a second PACS cannot be established in villages where one already exists unless declared defunct.
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