The Union Cabinet has approved the formation of three new cooperative societies, Union Minister Bhupender Yadav announced during the Cabinet Briefing in New Delhi. These societies would focus on seed availability to farmers, organic farming and exports, benefiting farmers.
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A decision in this regard was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA) headed by Prime Minister Narendra Modi.
“Cooperatives that are associated with farmers, farmers’ income and agriculture production are an important part of rural India. The Cabinet today took three main decisions in the field of cooperatives,” said Mr. Yadav.
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The Cabinet approved the establishment of the National Export Society, National Cooperative Society for Organic Products and National Level Multi-state Seed Cooperative Society, he noted.
These cooperative societies will help realise the vision of “Sahakar Se Samriddhi” (prosperity through cooperatives), and boost rural growth and farmers’ income, he added.
Other decisions
The Cabinet also approved an incentive scheme with an outlay of ₹2,600 crore to promote digital payment sector.
In principle, approval has been given for renaming Kolkata-based The National Centre for Drinking Water, Sanitation & Quality as Dr. Syama Prasad Mukherjee National Institute of Drinking Water and Sanitation.
(With inputs from PTI)