NEW DELHI: Union home and cooperation minister Amit Shah on Wednesday announced the launch of 10,000 Multipurpose Primary Agriculture Credit Societies (M-PACS), and said govt’s target to establish 2 lakh such new societies within the next five years would be achieved ahead of schedule under a vision to have “presence of cooperatives in every panchayat” across the country.
The new M-PACS, which include credit societies as well as dairy and fisheries cooperatives, will be engaged in 32 activities, including storage and distribution of manure, gas, fertilisers, and water, making them more versatile and effective.
The minister said once the target of 2 lakh PACS is achieved, it will play a vital role in ensuring easy availability of essential agricultural resources and facilitate seamless integration of farmers’ produce into global markets through robust forward and backward linkages.
On the occasion, coinciding with the birth centenary of former PM Atal Bihari Vajpayee, Shah distributed RuPay Kisan Credit Cards to farmers and micro-ATMs to 10 new cooperative societies. Shah said every primary dairy will soon be equipped with a micro-ATM and these tools will enable farmers to access low-cost loans, facilitating financial inclusion and support.
The minister said Nabard will form 22,750 PACS in the first phase and 47,250 in the second, while NDDB will establish 56,500 new societies and strengthen 46,500 existing ones.
Besides, NFDB will create 6,000 new fisheries cooperative societies, while empowering 5,500 existing ones. State cooperative departments will also form 25,000 PACS.
Regarding the ongoing modernisation efforts of PACs, Shah said it will improve operational efficiency and create employment for women and youth.