NCDC Loan Disbursement Went Up By 286% Under Modi Government

In a written reply in the Lok Sabha, Minister of Cooperation, Amit Shah lauded the role being played by NCDC and said since its inception and till the end of the last fiscal, NCDC has disbursed Rs.1.77 lakh crore to cooperatives for their development. It includes assistance to agricultural and horticulture cooperative societies, Shah added.

National Co-Operative Development Corporation’s (NCDC) objective is to bring about prosperity through cooperation. The nature and strength of the Co-Operative sector in India are its ability to reach the grassroots of our vast country. Co-operative sector will have a larger role to play in the development of the rural sector. NCDC, with its core objectives of promoting programs of the government rooted in cooperative principles, has been applauded for its contributions.

With the introduction of a new ministry for the Co-Operative sector, the Central government expressed its intentions to give the sector its rightful place, considering the reach and the importance of the sector to the development and progress of various sections of the society. The Co-operative sector is poised to realise the potential role in the country’s overall development. NCDC continues to further its mandate by providing financial assistance to various co-operatives in the country. NCDC also eggs on many sectors to set up co-operative institutions for progress.

In the Lok Sabha, the Minister told, “NCDC plans and promotes programs on co-operative principles. It assists cooperatives only. The NCDC financial assistance schemes encourage and attract people to form new cooperatives for carrying out business activities.”

As for the financial assistance, NCDC has cumulatively extended Rs.1.86 lakh crore of assistance to the co-operatives as of June 30, 2021. Over the last seven years, NCDC has fast-tracked its assistance to the cooperatives in the country and disbursed over 70 percent of its total assistance in the form of 1.31, which is over 286% of growth. Shah has



underlined the importance of co-operative sector under the Modi government.

The Minister further noted that “Finance schemes of NCDC cover activities such as agro-processing, horti-processing, credit, inputs, computerization, storage, cold chain, textile, handloom, sugar, ethanol, dairy, fisheries, livestock, piggery, poultry, renewable energy, rural housing, scheduled caste & scheduled tribes, women cooperatives, animal care/health, hospitality & transport, electricity & power, hospitals, healthcare, and education, etc.”

NCDC, in the last two years alone, has extended its coverage to over 10,000 primary-level co-operative societies in the country to attract youth towards the co-operative sectors. Under the Sahakar-22 initiatives, NCDC has embarked on a mission to expand further and with greater penetration to the youth in the rural societies. Another initiative worth the mention here is that NCDC has launched Yuva Sahakar Cooperative Enterprise Support and Innovation Scheme. The objective of this scheme is to enable Start-Ups in the cooperative sector to cater to different types of business activities.

Shah also expressed happiness with the Sahakar Mitra Scheme. Sahakar Mitra Scheme offers internship opportunities to students providing them with experience in areas of functioning of NCDC and relevant aspects of cooperative sectors.

Ayushman Sahakar Scheme is another scheme that attracted the mention of the Minister in the Lok Sabha. The Minister mentioned the Sahakar Scheme in his reply where NCDC offers finance to cooperatives to set up healthcare infrastructure and provide services. NCDC is one of the implementing agencies promoting FPOs, he added.

The Minister told the Lok Sabha that “The Formation and Promotion of Fish Farmers Producer Organizations (FFPO) under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) provides for registration and support of new cooperatives as FFPOs, NCDC being an implementing agency for promoting such FFPOs”.