NCDC’s New Scheme ‘Yuva Sahakar’ is Giving Wings to Young Entrepreneurs in Cooperatives

The Union Minister of Agriculture and Farmers' Welfare Shri Radha Mohan Singh while addressing the 84^th General Council meeting of National Cooperative Development Corporation said that NCDC has played an important role in promoting cooperative development in India by gradually shaping its financial schemes as well as programmes for the benefit of farmers through cooperatives.

The minister said that the Corporation during the current financial year 2018-19 has already achieved an all time high release of over ₹25,000 crore which is 210% of the current year target. It has registered a remarkable increase of around 222% in disbursements in last five years (2014-15 to 2018-19) as compared to previous five years (2009-10 to 2013-14). It is a matter of pride that net NPA of the Corporation is maintained at ‘Zero’ with recovery rate being over 98%. 

Singh said NCDC has been proactive in delivering innovative solutions for the cooperative sector. NCDC’s ‘Yuva Sahakar’ scheme was launched in November 2018 to give wings to young entrepreneurs in cooperatives. Newly formed cooperatives will be able to take advantage of the ‘Cooperative Start up and Innovation Fund’ formed by NCDC with liberalized assistance for cooperatives in the North Eastern Region, Cooperatives registered and operating in aspirational districts, cooperatives with 100% women/SC/ST/Person with Disability (PwD) members. 

An agreement has been signed between NCDC and Agricultural and Processed Food Products Export Development Authority (APEDA) under the New Agriculture Export Policy announced by the government. Both the organisations have identified common areas of cooperation and this collaboration will facilitate in providing better value to the stakeholders in agri and allied sectors through a variety of activities including focus on export in line with the policies of the Government. 

In addition an India International Cooperative Trade Fair’ will be organised in October, 2019 in New Delhi. It will be first of its kind which will  provide platform for sale, market, product display, conferences, buyer-seller meet, networking, policy advocacy etc to national and international cooperatives and related institutions.