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Cabinet approves setting up 2 lakh primary agricultural credit societies
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IANS | 15 Feb, 2023
Aiming to strengthen the cooperative sector, the Union Cabinet on
Wednesday approved setting up of two lakh new multipurpose primary
agricultural credit societies (PACS) in panchayats across the country in
the next five years.
Under this, dairy and fishery
cooperatives would be set up in all those panchayats which are
uncovered, i.e., which don't have cooperative societies till now.
This
plan would be implemented with the support of NABARD, National Dairy
Development Board (NDDB) and National Fisheries Development Board (NFDB)
through convergence of various schemes of the Ministry of Fisheries,
Animal Husbandry and Dairying by leveraging the 'whole-of-government'
approach, Minister for Information and Broadcasting, Anurag Thakur, told
mediapersons after the Cabinet meeting.
The setting up of
cooperative societies will provide farmer members with requisite forward
and backward linkages to market their produce, enhance their income,
obtain credit facilities and other services at village level.
The
PACS will provide farmer members with requisite forward and backward
linkages and enhance their income and will generate employment
opportunities in the rural area, the minister said.
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