For around 4,110 primary agricultural cooperative societies (PACS) in the State, a revival package of about Rs.1,750 crore has been worked out. Of the total amount, the share of the Centre would be Rs.1,344.53 crore; State government - Rs. 207.51 and PACS - Rs. 196.95 crore. The Centre''s share will be released through the National Bank for Agriculture and Rural Development (NABARD). The total assistance amount of Rs.1,748.99 crore was finalised at a State-level Implementing and Monitoring Committee meeting last month. This would cover 4,111 PACS affiliated to 22 District Central Cooperative Banks (DCCBs).
The State government and the NABARD signed a memorandum of understanding in January last year to implement the recommendations of the Task Force. On Wednesday, the State government sanctioned Rs.207.51 crore.
The decision of the committee was based on the proposals of the district-level panels, which were framed subsequent to the special audit of 4,337 PACS. However, only 4,111 societies were eligible for the assistance. In view of the stipulation that the Centre would release 25 per cent of its share only after the State government met all its commitments that includes the holding the elections to cooperative bodies, the State-level committee, at its meeting, approved an amount of Rs.1,008.4 crore as the share of the Union government.
The State government and the NABARD signed a memorandum of understanding in January last year to implement the recommendations of the Task Force. On Wednesday, the State government sanctioned Rs.207.51 crore.
The decision of the committee was based on the proposals of the district-level panels, which were framed subsequent to the special audit of 4,337 PACS. However, only 4,111 societies were eligible for the assistance. In view of the stipulation that the Centre would release 25 per cent of its share only after the State government met all its commitments that includes the holding the elections to cooperative bodies, the State-level committee, at its meeting, approved an amount of Rs.1,008.4 crore as the share of the Union government.
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