Latest news with #InternationalYearofCooperatives
Mint
4 hours ago
- Business
- Mint
Amit Shah to roll out National Cooperative Policy 2025 with 20-year vision—here's what to expect and why it matters
India's Cooperative sector is set for a major overhaul as Union Home Minister and Minister of Cooperation Amit Shah will launch the National Cooperative Policy 2025 on July 24, Thursday, effective from this year for two decades. It replaces the 2002 policy that provided a fundamental framework for better handling of cooperative institutions' economic activities. Now, the new policy emphasises reviving and modernising the cooperative sector while aiming to achieve prosperity through cooperation by developing a roadmap at the ground level. The aim of the National Cooperative Policy 2025 is to ensure that cooperative organisations are accessible to all, run efficiently and professionally, geared towards future needs, and capable of generating extensive employment and income-generating avenues, particularly in rural areas. The Ministry of Cooperation believes significant changes occurred in the society, country and abroad in the last 20 years due to globalisation and technological innovation. Considering this, 'it became necessary to formulate a new policy so that cooperative institutions can be made more active and useful in the current economic scenario and the role of the cooperative sector can be strengthened in achieving the goal of 'Viksit Bharat 2047', the ministry stated. Shah pointed out three key factors contributing to the decline of the cooperative movement in India: outdated laws that remained unchanged, lack of evolution and expansion in cooperative activities, and recruitment practices influenced by favouritism. "The Modi government has now amended these laws and conceived the idea of Tribhuvan Sahkari University (TSU) to address these issues," he asserted. It will support employment and benefit 1.4 billion people. 2. Shah mentioned setting up cooperatives in every village across India within five years, with a goal of establishing 2,00,000 Primary Agricultural Credit Societies (PACS) by February 2026, at a state cooperation ministers' meeting on the occasion of the celebration of the International Year of Cooperatives (IYC) 2025. 3. During the meeting that assessed initiatives taken by the Ministry of Cooperation, talks on advancing dairy and fisheries cooperatives and executing the world's largest grain storage scheme within the cooperative sector took place. Shah mandated that all states declare their own cooperative policies by January 31, 2026. 'Now we have brought cooperative banks under the Banking Act and the Reserve Bank of India has also taken a flexible approach and solved many of our problems," the minister said. He stressed that not a single village in the country should be left without a cooperative, and the National Cooperative Database should be utilised to attain this goal. A 48-member national-level committee led by former Union Minister Suresh Prabhakar Prabhu drafted the new National Cooperative Policy. The committee comprised representatives from national and state cooperative federations, cooperative societies across various levels and sectors, officials from relevant central and state government ministries or departments, and academicians. To promote an inclusive and participatory process, the committee conducted 17 meetings and organised four regional workshops in Ahmedabad, Bengaluru, Gurugram, and Patna. In total, 648 suggestions from stakeholders were thoroughly reviewed and integrated into the new cooperative policy. (With inputs from ANI and PTI)
News18
5 days ago
- Business
- News18
NABARD sanctions Rs 4,613 cr for rural projects in Arunachal: GM Mishra
Itanagar, Jul 18 (PTI) The National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 4,613 crore for 485 infrastructure projects across Arunachal Pradesh. These projects, supported under the Rural Infrastructure Development Fund (RIDF), have significantly contributed to enhancing rural connectivity, irrigation systems, and livelihood generation, NABARD General Manager Damodar Mishra said here on Friday. Addressing the 44th foundation day of the bank here, Mishra said the institution remains deeply committed to inclusive growth and sustainable rural development in the state. 'NABARD has not only financed critical infrastructure but has also been driving rural credit planning, the digitisation of primary agricultural credit societies (PACS), promotion of micro-enterprises, and climate-resilient farming practices," Mishra said. He added that NABARD's vision for Arunachal Pradesh is aligned with national priorities and focuses on building self-reliant, cooperative-led rural economies. The event also served to mark the global observance of the International Year of Cooperatives, declared by the United Nations. NABARD's Arunachal Pradesh regional office organised a sensitisation programme on the theme 'Cooperatives Build a Better World', underscoring the importance of cooperative institutions in achieving equitable development. The programme was attended by Rajiv Gandhi University (RGU) Vice Chancellor Prof S K Nayak, along with senior officials from the Department of Cooperation, RBI, SIDBI, NCDC, Arunachal Pradesh Rural Bank, cooperative unions and other partner organisations. Marking the occasion, Chief Minister Pema Khandu commended NABARD's role in driving rural progress. 'NABARD has been instrumental in supporting Arunachal's rural aspirations, from infrastructure to innovation. We value this long-standing partnership," Khandu said in a post on X. On the occasion, a booklet titled 'NABARD in Arunachal Pradesh" was released, chronicling the institution's contributions to the state. PTI UPL UPL NN view comments First Published: July 18, 2025, 18:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
5 days ago
- Business
- Time of India
NABARD sanctions Rs 4,613 cr for rural projects in Arunachal: GM Mishra
NABARD has sanctioned Rs 4,613 crore for 485 infrastructure projects in Arunachal Pradesh, boosting rural connectivity and livelihoods. The institution is committed to inclusive growth, driving rural credit planning, digitisation, and climate-resilient farming. Commemorating its 44th foundation day and the International Year of Cooperatives, NABARD reaffirmed its dedication to building self-reliant rural economies in Arunachal Pradesh. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The National Bank for Agriculture and Rural Development ( NABARD ) has sanctioned Rs 4,613 crore for 485 infrastructure projects across Arunachal Pradesh These projects, supported under the Rural Infrastructure Development Fund (RIDF), have significantly contributed to enhancing rural connectivity, irrigation systems, and livelihood generation, NABARD General Manager Damodar Mishra said in Itanagar on the 44th foundation day of the bank here, Mishra said the institution remains deeply committed to inclusive growth and sustainable rural development in the state."NABARD has not only financed critical infrastructure but has also been driving rural credit planning, the digitisation of primary agricultural credit societies (PACS), promotion of micro-enterprises, and climate-resilient farming practices," Mishra added that NABARD's vision for Arunachal Pradesh is aligned with national priorities and focuses on building self-reliant, cooperative-led rural event also served to mark the global observance of the International Year of Cooperatives, declared by the United Arunachal Pradesh regional office organised a sensitisation programme on the theme 'Cooperatives Build a Better World', underscoring the importance of cooperative institutions in achieving equitable programme was attended by Rajiv Gandhi University (RGU) Vice Chancellor Prof S K Nayak, along with senior officials from the Department of Cooperation, RBI, SIDBI, NCDC, Arunachal Pradesh Rural Bank, cooperative unions and other partner the occasion, Chief Minister Pema Khandu commended NABARD's role in driving rural progress."NABARD has been instrumental in supporting Arunachal's rural aspirations, from infrastructure to innovation. We value this long-standing partnership," Khandu said in a post on the occasion, a booklet titled "NABARD in Arunachal Pradesh" was released, chronicling the institution's contributions to the state.
Time of India
6 days ago
- Politics
- Time of India
‘Don't mess with India': Shah hails PM Modi over Op Sindoor
Jaipur: Union home and cooperation minister , while addressing a public rally at Jaipur's Dadia village Thursday, said Prime Minister sent a strong message to the world by conducting Op Sindoor after the Pahalgam attack, emphasising that Indian citizens, defence forces and borders are not to be trifled with, or there will be consequences. Tired of too many ads? go ad free now "Narendra Modi has done the most significant work by ensuring the country's there was an attack in Uri, and Modi responded with a surgical strike; then in Pulwama, there was an attack, and he conducted an airstrike; and when there was an attack in Pahalgam, Op Sindoor was carried out, striking at the heart of Pakistan and eliminating terrorists," Shah said. "A strong message was sent to the entire world that India's citizens, army and borders are not to be trifled with, or there will be consequences. Modiji has conveyed this message and worked towards realising the dreams of a prosperous, secure and developed India," he said. Speaking at a Cooperative and Employment Festival organised on the occasion of International Year of Cooperatives, Shah highlighted that under Modi's leadership, India has jumped from 11th position to become the world's fourth-largest economy, with 27 crore people rising above the poverty line.
Time of India
06-07-2025
- Business
- Time of India
Shah launches country's new multi-state cooperative federation
Vadodara/Anand: Union home minister and minister of cooperation Amit Shah on Sunday launched the Sardar Patel Cooperative Dairy Federation Limited (SPCDF), a new multi-state cooperative federation that will unite 20 lakh farmers from 20 states under a single unified umbrella. Tired of too many ads? go ad free now TOI reported on Sunday that a fresh chapter in India's cooperative sector was being scripted from 'milk city' Anand with the formation of SPCDF, a venture of the Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets the $11 billion brand Amul. "The Sardar Patel Cooperative Dairy Federation will help farmers at a level that Amul does by engaging in fair practices of procuring milk and providing appropriate pricing," said Shah after unveiling the logo of Amul's new venture at a function at Amul Dairy. This event marked the completion of four years since the formation of the ministry of cooperation. Representatives of milk producers from 20 states, other than Gujarat, from where Amul procures milk, were present at the gathering. The new federation will have an initial corpus of Rs 200 crore. "Today, 36 lakh in Gujarat and 20 lakh more across India power Amul's operations. Thanks to their efforts, Amul's current turnover stands at Rs 80,000 crore. Next year, we will cross Rs 1 lakh crore — and the profit will go straight into the accounts of 56 lakh women," said Shah. He stressed that the cooperative model was not about enriching individuals but uplifting entire communities, with Amul standing as a model of inclusive economic success. The new cooperative federation will bring together dairy farmers from nearly 20,000 small and big unregistered milk cooperatives in 20 states on a single platform. Tired of too many ads? go ad free now Of the 300 lakh litres of milk collected by GCMMF and its 18 member unions daily, 20% of the milk comes from 20 different states outside Gujarat. TOI reported that the new multi-state cooperative federation, which will be governed under the Multi-State Co-operative Societies Act, 2002, was being formed in the year that marks the International Year of Cooperatives as declared by the United Nations, and the fourth year of the formation of the ministry of cooperation. The year also marks 150th birth anniversary year of Sardar Patel, who sowed the seeds of Amul. The governing structure of the new federation will comprise multiple stakeholders, including a GCMMF representative (20% equity), representatives of 10 milk unions of Gujarat (60% equity), and three board members representing farmers from outside Gujarat (20% equity).
