<p>The Union Cooperation Ministry is working on a new central scheme to modernise and digitalise over 97,000 primary agriculture cooperative societies (PACs) spread across the country, with a budget outlay of around Rs 2,000-3000 crore over the next five years.</p>.<p>Primary agriculture cooperative societies (PACs) -- commonly known as agri-cooperative credit societies -- are village-level lending institutions based on cooperative principles. They provide short and medium term loans to rural people to meet their financial requirements.</p>.<p>There are about 97,961 PACs across the country, out of which viable ones are about 65,000.</p>.<p>"We are working on a central scheme to computeralise PACs. The aim is to ensure seamless connectivity of panchayat level PACs till headquarters," a senior Cooperation Ministry official told PTI.</p>.<p>After digitalisation of PACs, banking procedures will get smooth and will benefit in auditing. Besides, it will ensure the benefit of farm loans reaches the last mile because in a few states agri-credit is still disbursed through PACs, he said.</p>.<p>Stating that it would be a "futuristic scheme", the official said the computerisation will also enable PACs to create new vocations like setting up of godowns.</p>.<p>Since PACs are under the ambit of state government, the scheme envisaged will be on a 60:40 basis for five years, he said and added, total budget is expected to be Rs 2,000-3,000 crore.</p>.<p>Back in 2017, the government had moved a proposal to computerise PACs with a budget outlay of Rs 1950 crore. However, it could not get the cabinet clearance.</p>.<p>Earlier when the Cooperation Department was part of the Union Agriculture Ministry, only one scheme, the Integrated Scheme of Agriculture Cooperation (ISAC) -- under which subsidy is being given to PACs for upgrading their capital infrastructure -- was being implemented.</p>.<p>A new Ministry of Cooperation was formed in July this year to strengthen the cooperative movement. It is working on a new cooperative policy and some central schemes.</p>.<p>The official said that the Department of Personnel and Training (DOP) has already created and sanctioned 168 posts for the new ministry. </p>.<p><strong>Check out latest DH videos here</strong></p>
<p>The Union Cooperation Ministry is working on a new central scheme to modernise and digitalise over 97,000 primary agriculture cooperative societies (PACs) spread across the country, with a budget outlay of around Rs 2,000-3000 crore over the next five years.</p>.<p>Primary agriculture cooperative societies (PACs) -- commonly known as agri-cooperative credit societies -- are village-level lending institutions based on cooperative principles. They provide short and medium term loans to rural people to meet their financial requirements.</p>.<p>There are about 97,961 PACs across the country, out of which viable ones are about 65,000.</p>.<p>"We are working on a central scheme to computeralise PACs. The aim is to ensure seamless connectivity of panchayat level PACs till headquarters," a senior Cooperation Ministry official told PTI.</p>.<p>After digitalisation of PACs, banking procedures will get smooth and will benefit in auditing. Besides, it will ensure the benefit of farm loans reaches the last mile because in a few states agri-credit is still disbursed through PACs, he said.</p>.<p>Stating that it would be a "futuristic scheme", the official said the computerisation will also enable PACs to create new vocations like setting up of godowns.</p>.<p>Since PACs are under the ambit of state government, the scheme envisaged will be on a 60:40 basis for five years, he said and added, total budget is expected to be Rs 2,000-3,000 crore.</p>.<p>Back in 2017, the government had moved a proposal to computerise PACs with a budget outlay of Rs 1950 crore. However, it could not get the cabinet clearance.</p>.<p>Earlier when the Cooperation Department was part of the Union Agriculture Ministry, only one scheme, the Integrated Scheme of Agriculture Cooperation (ISAC) -- under which subsidy is being given to PACs for upgrading their capital infrastructure -- was being implemented.</p>.<p>A new Ministry of Cooperation was formed in July this year to strengthen the cooperative movement. It is working on a new cooperative policy and some central schemes.</p>.<p>The official said that the Department of Personnel and Training (DOP) has already created and sanctioned 168 posts for the new ministry. </p>.<p><strong>Check out latest DH videos here</strong></p>