Co-op sector seeks dedicated fund, startup incubators, agritourism aid

NEW DELHI: In recent pre-Budget consultations with finance minister Nirmala Sitharaman, cooperative sector stakeholders advocated for concrete steps to foster innovation and expand cooperative start-ups through the establishment of incubators and a dedicated fund. They also want the govt to harness the potential of agritourism initiatives to showcase rural life and farming practices.
They also stressed the importance of PPP model in agriculture, healthcare, education, and community infrastructure development to leverage the grassroots presence of cooperatives and enhance service delivery and socio-economic development.
During Friday's consultations, National Cooperative Union of India (NCUI), apex body focusing on cooperative education and training, proposed prioritizing procurement of goods and services from cooperative societies for govt projects.
Its other suggestions included encouraging cooperatives to establish agro-processing, food processing, and packaging units through grants, low-interest loans, and tax incentives; and investments in bioenergy projects such as biogas and bio-ethanol production from agricultural waste.
NCUI also suggested enhancing the capital base and technological infrastructure of cooperative banks to expand their financial services, including insurance, microcredit, and digital banking solutions.
Sahakar Bharti, an RSS-affiliated body, and other cooperative unions’ members suggested steps to strengthen the cooperative movement through support and incentives. They said these initiatives would not only increase the income of millions of farmers engaged in cooperatives but also significantly contribute to the national economy.
Agri experts during their pre-budget consultations with the FM proposed increased investment in agricultural research, doubling investment for optimal water utilization in farming operations, rationalising fertilizer subsidies, and increasing infrastructure spending to enhance farm sector's climate resilience.
Indian Chamber of Food and Agriculture chairman MJ Khan emphasised the need for "massive investment in agriculture R&D". Bharat Krishak Samaj chairman Ajay Vir Jakhar suggested segregating agriculture funds between education and research.
The experts also called for consolidating all agriculture-related subsidies for transfer through Direct Benefit Transfer (DBT) and promotion of bio-fertilisers and foliar fertilisers through subsidies.