Will set up coop bank, milk producers’ union in every district

Union Cooperation Minister Amit Shah on Saturday said the Centre has set a target to have a co-operative bank and a milk producers’ union in each district of the country and also establish in the next five years multipurpose primary agriculture credit societies (PACS) in two lakh panchayats that have no cooperative institution.
Addressing the ‘Sahkar se Samriddhi’ (Prosperity through Cooperation) programme organised to mark the 102nd International Day of Cooperatives, Shah thanked the Gujarat government for announcing a subsidy of 50 percent on Nano-urea and Nano-DAP and said their use will increase production and save the soil.
He said the cooperative sector is making very important contribution in the rural and agricultural economy, and urged for the promotion of ‘cooperation among cooperative’ institutions.
“The Union Ministry of Cooperation has taken many important steps. The government has set a target that there should not be any state or district in the country where there is not a viable district cooperative bank and a viable district milk producers’ union. Even today there are two lakh panchayats in the country where there is no cooperative institution. In the next five years, we will work to create multipurpose PACS in these two lakh panchayats,” Shah said.
The Centre will soon bring a National Cooperative Policy, he said, adding that 1100 new Farmer Producer Organisations (FPOs) have been formed in the country, and more than 1 lakh PACS have accepted the new bylaws.
The National Cooperative Development Corporation (NCDC) will be able to work for the welfare of more cooperative institutions with the issuance of bonds worth Rs 2000 crore, Shah said.
He urged National Bank for Agriculture and Rural Development (NABARD) and state cooperative banks to make arrangements for PACS and other cooperative institutions to open their accounts in the district or state cooperative banks, which will strengthen the cooperative sector and increase capital and confidence.