New Delhi (04.02.2024): PHD Task Force on Co-operatives Chairman Vineet Nahata in a letter addressed to Union Finance Minister Nirmala Sitharaman appreciated for measures announced in the recent Union budget for the benefit of the cooperative sector.

While underlining the measures taken by the Centre in implementing rural development plans with specific focus on the cooperative sector, he lauded the progress made in establishing Primary Agricultural Credit Societies (PACS) in collaboration with NABARD and also emphasized the government’s commitment to the rural development. He writes in the letter, “The PHD Chamber, on behalf of its members, commended the strategic collaboration with NABARD for the establishment of PACS, noting the potential to significantly enhance agricultural practices and empower rural communities.”

Special mention was made to the initiatives taken by National Dairy Development Board (NDDB) and the ongoing efforts to establish viable dairy units through Multi-purpose PACS (M-PACS). Vineet Nahata praised the collaborative efforts with District Cooperative Banks and Registrar of Cooperative Society, underscoring a coordinated strategy towards fostering cooperative growth.

In fisheries sector, the action plan for the formation of 12,000 primary fisheries cooperatives and the revitalization of existing ones were deemed commendable steps toward the economic empowerment of fishing communities.

The letter acknowledged meticulous monthly plan of activities in the 13 maritime States/UTs, emphasizing sustainable development in coastal fishing villages. He further added that initiatives would pave the way for lasting changes, fostering economic growth and prosperity in the cooperative sector.