Union Cabinet Approves Rs 2,000 Crore Financial Support for National Cooperative Development Corporation – Amar Ujala Hindi News Live

It has been told by the government that from 2025-26 to 2028-29, Rs 2000 crore will be paid for a period of 4 years. NCDC will be able to raise Rs 20,000 crore from the open market over a period of four years. Essays will be used by NCDC to set up new projects/expansion of plants, lends to cooperative societies and to meet working capital requirements.

The government has stated that this step has made 2.9 crore members of 13,288 cooperative societies in various fields like dairy, livestock, fisheries, sugar, textiles, food processing, storage and cold storage across the country; The cooperative societies led by labor and women will benefit.

Vaishnav said that the Union Cabinet on Thursday approved a grant assistance of Rs 2,000 crore to the National Cooperative Development Corporation (NCDC) for four years. This step will help in raising more money to give loans to the organization.

A decision was taken in this regard in the meeting of the Cabinet Committee on Economic Affairs under the chairmanship of Prime Minister Narendra Modi. Information and Broadcasting Minister Ashwini Vaishnav told reporters, “To give more support to a good financial model, the Cabinet approved a capital grant of Rs 2,000 crore for NCDC for four years.”

NCDC gives loans to more than 8.25 lakh cooperative societies, who have 29 crore members. 94 percent of the total members are farmers. The minister said that with this financial assistance, NCDC will be able to raise an additional Rs 20,000 crore for further loans. He said that at present the debt recovery rate of NCDC is 99.8 percent and NPA is zero.

While addressing the cabinet briefing, Union Minister Ashwini Vaishnav also informed about the Itarsi-Nagpur fourth railway line. He said, “Prime Minister Narendra Modi has approved the fourth line between Itarsi and Nagpur. It will be constructed on Delhi and Chennai as well as the high-gradation corridors connecting Mumbai and Howrah. It is a meeting of the four directions.”

According to the information provided by the government, the cabinet has approved four multitraging projects covering 13 districts of Maharashtra, Madhya Pradesh, West Bengal, Bihar, Odisha and Jharkhand. In this, the current network of Indian Railways will increase by about 574 km. The cost of this project will come around Rs 11169 crore.