Union Cabinet approves establishment of new Primary Agricultural Credit Society in 2 lakh panchayats

In order to strengthen the cooperative sector, Union Cabinet on Wednesday approved the setting up of a new Primary Agricultural Credit Society (PACS) in two lakh panchayats in the next five years.

As many as 25 different facilities will be provided through Primary Agricultural Credit Society. Dairy and fishery will also be linked to the agri cooperatives.

"Cabinet approves strengthening the cooperative movement in the country and deepening its reach up to the grassroots. Target to establish 2 lakh multipurpose PACS, dairy, fishery cooperatives in the next 5 years," Union Minister Anurag Thakur said.

He further said that the plan would be implemented with the convergence of various schemes by leveraging the 'whole of government' approach.

"Establishment of primary agriculture credit societies in each uncovered panchayat, viable dairy cooperatives in each uncovered panchayat, village and viable fishery cooperatives in each coastal panchayat, the village as well as Panchayat having large water bodies," he added.

Further, it has also approved Vibrant Villages Programme, a Centrally Sponsored Scheme for the Fiscal Year 2022-23 to 2025-26 with the financial aloocation of Rs 4800 crore.

"It will lead to infrastructure development and livelihood opportunities in four states--Himchal Pradesh, Uttarakhand, Sikkim and Arunachal Pradesh-- and one Union Territory of Jammu and Kashmir and Ladakh along the northern land border. The scheme will help to accelerate the inclusive growth of villages on the northern border. It will improve the quality of life of people and aid in reversing outmigration, adding to improved security," Thakur said.

( With inputs from ANI )