Cooperative Start-up and Innovation Fund will be Started

Cooperative Start-up and Innovation Fund will be Started; Radha Mohan Singh

Inaugurating 65th All India Cooperative Week organized by NCUI on 14th November,2018,Sh. Radha Mohan Singh, Hon’ble Union Minister for Agriculture and Farmers’ Welfare said that the Government is coming up with Rs. 1000 crore Cooperative Start-up and Innovation Fund which will create self-employment opportunities benefitting the women and weaker sections of the society. The scheme will be implemented by NCDC and will have an annual corpurs of Rs 100 crores. The main theme of this year’s Cooperative Week celebrations is “Inclusive Growth and Good Governance through Cooperatives for Rural Prosperity”. The Cooperative Week is celebrated every year from 14-20th November, 2018.
Sh. Singh further said that the fund aims to encourage newly formed cooperatives to take advantage of innovative ventures, especially by societies having new and innovative ideas. Cooperatives operating for at least one year and having a positive net worth are eligible to avail credit under the scheme for new and innovative project ideas, he said. He said that the scheme would be liberal to cooperatives in the northeastern region, those registered and operating in ‘aspirational districts’ identified by think- tank Niti Aayog as well as cooperatives which have 100 percent women and SC/ST members. Further he is said that it is wrong to assume that the government is trying to harm the cooperative movement. If there is some misunderstanding, then this can be solved through dialogues and discussions. Extolling the virtues of cooperatives, he said that “Sabka Saath Sabka Vikas” can be possible only through cooperatives.
Asserting that the present government is strengthening cooperative institutions, he said, ‘We are not just strengthening on paper, but working hard on ground in every state’. ‘Consequently, the loan amount sanctioned by NCDC has been on the rise, since 2014 when the present government has come to power. In the previous regime, about Rs 5,000 crores loans were sanctioned annually by NCDC, but it has doubled in the last four years,’ he said. He further said that in the current times innovation and research are the biggest challenge before the cooperative movement. He further said that “Sabka Saath Sabka Vikas” can be possible only through the medium of cooperatives. He also said that in order to make cooperatives professional organizations, they should give emphasis on education and training.
Dr. Chandra Pal Singh Yadav, President, NCUI in his Presidential Address said that earlier 75% loaning was done by cooperative credit institutions,, but now this has decreased to 15% .He further said that in place of cooperatives banks which earlier used to advance loans, the private banks have emerged which is threatening for cooperatives. He further said that the government should formulate cooperative policy in such a way that cooperatives are strengthened. He also said that the government should consider cooperative education and training as same sides of the coin, not as separate entities, so that this has no adverse impact on the functioning of the cooperative movement.
Mr. Balu Iyer, Regional Director, ICA-AP speaking on the occasion said that there is no better model of inclusive growth than that of cooperatives and there can be no better startup than that of cooperatives.
Mr. K.G. Suresh, Director General, Institute of Mass Communication speaking on the occasion said that the cooperators should strengthen their communication plank so that there is good publicity made for the work of cooperatives. He said that IIMC will work with NCUI in this regard so that cooperative communications is strengthened.
On this occasion NCUI received more then 30 Messages from eminent dignitaries like Vice President, Cabinet Ministers, Minister of State, Governors, Chief Ministers, etc which was read out by NCUI Chief Executive N Satya Narayana. A special issue of the magazine ‘The Cooperaor’ published by NCUI was released on the occasion.
The function was attended by more than 500 delegates representing national and state level cooperatives in the country.