Goa Chief Minister Dr. Pramod Sawant has lauded the Union Cabinet’s recent approval of the Central Sector Scheme titled “Grant in Aid to National Cooperative Development Corporation (NCDC)”, calling it a transformative move in the journey towards Viksit Bharat (Developed India). The scheme, aimed at strengthening the cooperative sector, is expected to play a pivotal role in empowering rural communities, enhancing productivity, and promoting self-reliance through sustainable economic development.
The Central Government, under the leadership of Prime Minister Narendra Modi, has sanctioned financial assistance to the NCDC through a dedicated Grant in Aid scheme. The scheme seeks to provide long-term concessional loans to cooperative societies engaged in sectors such as agriculture, rural credit, healthcare, dairy, fisheries, warehousing, and rural infrastructure.
Dr. Sawant emphasized that this initiative will be particularly beneficial to states like Goa where cooperative societies play a critical role in supporting agriculture and allied activities. “This move by the Union Cabinet will not only boost rural infrastructure but also strengthen grassroots-level governance through empowered cooperatives,” said the Chief Minister.
The NCDC, an apex financing organization under the Ministry of Cooperation, will act as the implementing agency. The grant aims to supplement the financial capabilities of Primary Agricultural Credit Societies (PACS), Farmers’ Producer Organizations (FPOs), and other cooperative entities. It is also aligned with the government’s goal to establish 2 lakh multi-purpose PACS across India by 2027.
Key Features of the Scheme:
- Provision of affordable and long-term concessional finance.
- Promotion of integrated cooperative development projects.
- Encouragement of cooperative-led entrepreneurship in rural areas.
- Special focus on aspirational districts and underserved regions.
The Union Cabinet’s decision has been welcomed across various states, with experts highlighting its potential to drive inclusive growth. Analysts believe that the initiative will unlock new opportunities in rural credit delivery, agri-business, and value chain development — essential components in realising the Atmanirbhar Bharat (Self-Reliant India) vision.
Goa’s Cooperative Model as a Catalyst
Goa has been actively working towards strengthening its cooperative framework in recent years. The CM noted that with the central assistance now available, local cooperatives can scale up their activities, adopt new technologies, and create more employment opportunities. “The synergy between state efforts and central support will fast-track rural development in Goa,” Sawant added.
The approval of the Grant in Aid to NCDC scheme reflects the Union Government’s strong commitment to empowering India’s cooperative movement — a backbone of rural India. As Goa and other states prepare to leverage this support, the initiative is poised to play a strategic role in fulfilling the vision of Viksit Bharat @2047. With enhanced funding, capacity-building, and institutional support, India’s cooperative sector is set to become a formidable driver of sustainable and inclusive growth.
