Lucknow, 01 Sept: Everyone should have access to financial services, with a focus on the growth of Uttar Pradesh and the needs of farmers. In the initial phase, the major goal is to build cooperative bank branches and connect them to the BC Sakhi program. Second, make these banks profitable before moving to the third phase of One District, One Cooperative Bank, said Chief Minister Yogi Adityanath on Friday.
The Chief Minister stated during the launch of the B-PACS membership drive and toll-free number that Uttar Pradesh is growing as a good investment hub. The program ‘One District, One Product’ has garnered national traction. Prime Minister Narendra Modi promotes the ‘local for global’ drive to develop self-reliance.
“The MSME department is actively promoting local product packaging, design, and marketing. A new competition has evolved, encouraging individuals to help promote the local product. If cooperative banks participate in this process, it will help them regain public trust.”
Cooperatives, according to the CM, have been a part of Indian heritage since ancient times. But, at one point, the cooperative’s work was jeopardized, and the wrong individuals became engaged, with serious ramifications for the country’s most populous state. We are all grateful to PM Modi, who awarded cooperatives the status of ministry following re-election as Prime Minister in 2019.
“As the country’s first Minister of Cooperation, Home Minister Amit Shah has worked to strengthen PACS, its most fundamental unit, by connecting it to prosperity. We are delighted that this membership campaign has been launched in Uttar Pradesh from September 1 to 30, and that a toll-free number has been issued,” he said.
According to the Chief Minister, the double-engine government is moving the agenda ahead by tying cooperatives to prosperity. PACS was previously confined to selling fertilizer and seeds, but it is currently being expanded as a Common Service Development Center, with additional facilities.
“We have the most fertile land in the world and the best water resources,” the Chief Minister said of agriculture in a state like Uttar Pradesh. More than 2.61 lakh farmers are affiliated with PM Kisan Samman Nidhi. That means we have 3 crore farmers who can join our effort, lead it to prosperity, and help tie agriculture to Uttar Pradesh’s wealth.”
During India’s independence, agriculture accounted for more than 40% of overall GDP. This proportion has significantly reduced over time and now stands at roughly 16-17 percent nationwide. In Uttar Pradesh, though, it remains considerable at 25 to 26 percent. According to the Chief Minister, UP has the ability to make an even greater contribution in this domain.
Our diligent farmers can transform their soil into gold, according to the CM, if they have timely access to seeds and fertilizers and other parts of agricultural operations run well. It will be critical in revitalizing the cooperative movement in Uttar Pradesh.
Along with boosting PACS credit limits, CM Yogi underlined the significance of having particular agriculture loan objectives. He stated that, given the state’s requirements, the present ceiling of 7,500 PACS is insufficient to cover the liquidity demands for fertilizer purchases.
According to state regulations, a credit limit of Rs 10 lakh is necessary. In this regard, the state government would give full assistance. He also stated that agricultural loans should be explored in the future in consultation with the Agriculture Department.
What exactly is a B-PACS campaign? B-PACS is a program for establishing multifunctional rural cooperative organizations. There are over 250 cooperative organizations functioning inside the region to supply farmers with low-cost fertilizer, seeds, and the advantages of different government programs.
As part of the B-PACS Mahabhiyan project, it has been decided to designate members to every committee beginning September 1 to guarantee seamless operations in the future, notably regarding loan distribution as well as fertilizer and seed distribution.
During this membership drive, which runs until September 30, at least 200 new members will be recruited to each committee.
Any farmer can become a member by purchasing a Rs 21 receipt and a Rs 200 share bond. This membership will result in a higher loan limit for member farms as well as a lower yearly interest rate.
Furthermore, any anyone dwelling in the Resource Co-operative Society’s Gram Panchayat, engaged in temporary economic operations, owning land, or wishing to deposit cash in the society can become an ordinary member of the society. Farmers will find it easier to take advantage of the cooperative society once they become members.
