The Hindu Business Line : NCDC sets aside Rs 300 cr for agro-processing co-operatives

THE National Cooperative Development Corporation (NCDC) has set aside Rs 299.72 crore of its total outlay of Rs 850 crore for agro processing co-operatives comprising sugar projects spinning mills, oil seed projects, food grains, fruits and vegetable units, among others, for the financial year 2005-06.

NCDC has earmarked Rs 200 crore for programmes initiated by weaker sections, Rs 134.78 crore for agro marketing and input programmes and Rs 160 crore for Integrated Cooperative Development Projects (ICDP).

The corporation has reduced its lending rates four times during the past two years, with the present interest rates varying between 8 and 10.5 per cent. This was stated by the Union Minister for Agriculture, Food and Civil Supplies, Mr Sharad Pawar, while presiding over the 60th meeting of the General Council of NCDC held here on Thursday.

He also stated two committees were constituted to recommend measures for rehabilitation of sick cooperatives and for development of North Eastern region, according to a release. The corporation, this year, would focus on development of horticulture, improving production and productivity of plantation crops, strengthening marketing infrastructure and distribution of inputs, among others.

NCDC has so far disbursed Rs 8,784 crore to support various cooperative projects in the country that includes Rs 1,060 crore in 2004-05, added the release.

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NCDC sets aside Rs 300 cr for agro-processing co-operatives