Source: TOI
Context: The Union Cabinet has approved a ₹2,000 crore grant to the National Cooperative Development Corporation (NCDC) over four years.
About National Cooperative Development Corporation (NCDC):
- What it is?
- NCDC is a statutory body that promotes and finances cooperative development in agriculture, rural industries, and allied sectors.
- Established in: Set up in 1963 under an Act of Parliament and functions under the Ministry of Cooperation.
- Headquarters: Based in New Delhi, with 18 regional and state offices across India.
- Objective:
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- Promote self-reliant and sustainable cooperatives in agriculture and rural industries.
- Enable cooperatives to access long-term credit, working capital, and modern infrastructure.
- Key Functions:
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- Finance production, processing, marketing, and storage of agricultural produce.
- Support import and export of notified commodities such as fertilizers, machinery, rubber, textiles, etc.
- Fund income-generating activities like dairy, poultry, fisheries, handloom, and sericulture.
- Extend financial assistance to cooperatives for rural infrastructure such as irrigation, sanitation, and animal health.
- Provide both grants and loans to State Governments and directly to eligible cooperative societies.
- Offer technical guidance and project preparation support through its regional offices.
- Significance of NCDC:
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- Serves over 13,000 cooperative societies with 2.9 crore members.
- Enables inclusive rural growth through job creation, especially in women-led and labour cooperatives.
- Supports cooperatives in cold storage, food processing, fisheries, dairy, and textiles, enhancing value chains.
