New Delhi, December 26, 2024.
Union home and cooperation minister Amit Shah on Wednesday inaugurated 10,000 newly formed multipurpose Primary Agriculture Credit Societies (M-PACS), and said that the government’s ambitious target to establish 2 lakh new such societies within the next five years would be achieved ahead of schedule under a vision to have “presence of cooperatives in every Panchayat” across the country.
The newly inaugurated M-PACS, which include credit societies as well as dairy and fisheries cooperatives, will be engaged in 32 diverse activities, including storage and distribution of manure, gas, fertilizer, and water, making them more versatile and effective.
Shah said once the target of 2 lakh PACS is achieved, it will play a vital role in ensuring the easy availability of essential agricultural resources for farmers and greatly facilitate the seamless integration of their produce into global markets through robust forward and backward linkages.
The minister on the occasion, coinciding with the birth centenary of former Prime Minister Atal Bihari Vajpayee, also distributed RuPay Kisan Credit Cards (KCC) to farmers and micro-ATMs to ten newly formed cooperative societies. These financial tools are designed to provide easy access to credit services in panchayats.
Shah said every primary dairy will soon be equipped with a micro-ATM as part of the ongoing campaign and these tools will enable farmers to access low-cost loans, facilitating financial inclusion and support.
Sharing details of the plan to set up 2 lakh PACS in a phased manner, the minister said the Nabard will form 22,750 PACS in the first phase and 47,250 in the second whereas NDDB will establish 56,500 new societies while strengthening 46,500 existing ones.
Besides, the NFDB will create 6,000 new fisheries cooperative societies while empowering 5,500 existing ones. Additionally, state cooperative departments will contribute by forming 25,000 PACS. Under the new model bylaws, 11,695 new primary cooperative societies have already been registered. The government in September issued guidelines which will ensure the effective functioning of the two lakh new M-PACS.
Emphasizing on the ongoing efforts of computerization and use of technology to “enhance transparency within PACS”, Shah said the modernization will not only improve operational efficiency but also create employment opportunities for women and youth.
Union minister for fisheries, animal husbandry, and dairying Rajiv Ranjan Singh was also present at the event, held here at the ICAR Convention Centre.
