New Delhi [India], July 31 : Goa Chief Minister Pramod Sawant on Thursday congratulated the Union Cabinet, led by Prime Minister Narendra Modi, for approving the Central Sector Scheme "Grant in aid to National Cooperative Development Corporation (NCDC)" with an outlay of Rs 2000 crore
In a post on X, Pramod Sawant wrote, "Heartfelt congratulations to the Union Cabinet led by Hon'ble Prime Minister Shri@narendramodiji for approving the Central Sector Scheme 'Grant-in-aid to National Cooperative Development Corporation' with an outlay of ₹2000 crore for 2025-26 to 2028-29."
https://x.com/DrPramodPSawant/status/1950874239499911259
He further added that the scheme, aimed at empowering cooperatives and promoting rural development, is under the vision of 'Sahakar Se Samriddhi'.
"This decision will empower cooperatives, boost rural development, and strengthen self-reliant, inclusive growth under the vision of Sahakar Se Samriddhi. A big step towards Viksit Bharat@2047," the post reads.
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Central Sector Scheme "Grant in aid to National Cooperative Development Corporation (NCDC)" with an outlay of Rs 2000 crore for a period of four years from 2025-26 to 2028- 29 (Rs 500 crore each year from FY 2025-26).
Based on a grant in aid of Rs 2000 crore to NCDC from FY 2025-26 to FY 2028-29, NCDC will be able to raise Rs 20,000 crore from the open market over a span of four years.
These funds will be utilised by NCDC for granting loans to Cooperatives for setting up new projects/expansion of plants, and loans for meeting the working capital requirements.
Approximately 2.9 crore members of 13,288 Cooperative societies of various sectors like Dairy, Livestock, Fisheries, Sugar, Textile, Food Processing, Storage and Cold Storage, Labour and Women-led cooperatives across the country are likely to benefit.
The implementation strategy and targets are as follows: NCDC will be the executing agency for this scheme, responsible for disbursement, follow-up, monitoring of the project's implementation, and recovery of the loan disbursed from the fund.