New Delhi, Aug. 1 -- The Union cabinet on Wednesday approved six proposals with a cumulative outlay of Rs.19,688 crore to strengthen cooperatives, boost food processing and expand railway connectivity.
With a special focus on strengthening India's farmers, a grant of Rs.2,000 crore over four years has been approved for the National Cooperative Development Corporation (NCDC), said IT, railways and I&B minister Ashwini Vaishnaw , while announcing the decisions. NCDC gives loans to about 8.5 lakh cooperatives, which have 290 million members. About 94% of India's farmers are associated with these cooperatives, he said .
The funding will allow NCDC to mobilise an additional Rs. 20,000 crore for lending to sectors such as dairy, fisheries, te...
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