Cabinet approves establishment of Agricultural Credit Societies

The Union Cabinet has approved strengthening the cooperative movement in the country and deepening its reach up to the grassroots.

Briefing reporters after the cabinet meeting in New Delhi on Wednesday, Information and Broadcasting Minister Anurag Singh Thakur said, initially two lakh multipurpose Primary Agricultural Credit Society (PACS), viable dairy cooperatives and fisheries cooperative will be established in each uncovered Panchayat.

He said, these PACS, Dairy and Fishery Cooperatives will be established in the next five years. The Minister said, this will enable cooperative societies to set up and modernise necessary infrastructure. Mr Thakur said, this will also strengthen the cooperative sector and help in generating employment opportunities in rural areas.

Union Cabinet has also approved Centrally Sponsored Scheme- Vibrant Villages Programme for the Financial Years 2022-23 to 2025-26 with financial allocation of 4,800 crore rupees. Information and Broadcasting Minister Anurag Singh Thakur said, it will lead to infrastructure development and livelihood opportunities in four States and one Union Territory along the northern land border. These include Himachal Pradesh, Uttrakhand, Sikkim, Arunachal Pradesh and Union Territory of Ladakh. Mr Thakur said, this will improve the quality of life of the people as well as inclusive growth of villages on northern border.

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