The cooperative sector is looking for a dedicated fund, startup incubators, and agritourism assistance India news

NEW DELHI: During the recent pre-Budget consultations with Finance Minister Nirmala Sitharaman, stakeholders from the cooperative sector advocated for concrete steps to support innovation and growth of cooperative start-ups by setting up incubators and a dedicated fund. They also want the government to harness the potential of agritourism initiatives to showcase rural life and farming practices.

They also highlighted the importance of the PPP model in agriculture, healthcare, education and community infrastructure development to leverage the grassroots presence of cooperatives and improve service delivery and socio-economic development.

During Friday’s consultations, the National Cooperative Union of India (NCUI), the apex body for cooperative education and training, proposed prioritizing procurement of goods and services from cooperatives for government projects.
Her other suggestions included encouraging cooperatives to set up agri-food processing and packaging plants through grants, low-interest loans and tax incentives; and investments in bioenergy projects such as the production of biogas and bioethanol from agricultural waste.

NCUI also suggested strengthening the capital base and technology infrastructure of cooperative banks to expand their financial services, including insurance, micro-credit and digital banking solutions.

Sahakar Bharti, an RSS-affiliated body, and other members of cooperative unions have proposed steps to strengthen the cooperative movement with support and encouragement. They said that these initiatives would not only increase the income of millions of farmers operating in cooperatives, but would also significantly contribute to the development of the national economy.

During consultations before the adoption of the budget with the Ministry of Finance, agricultural experts proposed increased investments in agricultural research, doubling investments for the optimal use of water in agricultural activities, rationalizing fertilizer subsidies and increasing infrastructure spending to increase the resilience of the agricultural sector to climate change.

Chairman of the Food and Agriculture Council of India MJ Khan stressed the need for “massive investment in agricultural research and development”. Bharat Krishak Samaj president Ajay Vir Jakhar suggested splitting agricultural funds between education and research.

Experts also called for consolidation of all agriculture-related subsidies to be transferred under Direct Benefit Transfer (DBT) and promotion of bio-fertilizers and foliar fertilizers through subsidies.