The National Cooperative Development Corporation (NCDC) has approved a programme of activities involving a financial outlay of Rs 4,000 crore for 2011-12.
A credit guarantee scheme is also envisaged to enable societies to make available adequate security against small loans, said Mr Bijoy George, Regional Director, NCDC.
Further, the Centre is considering an amendment of the NCDC Act to include producer companies within its ambit for funding purposes.
Explaining, Mr George said that NCDC will continue to support and supplement the efforts of state governments and cooperative institutions towards development of co-operatives in agriculture and allied sectors.
Priority will be given to programmes aimed at benefiting weaker sections and remote regions, Integrated Cooperative Development Projects and those in new thematic areas, especially service sector.
Due emphasis will be given for assisting what he described as ‘cutting-edge' projects in larger numbers.
NCDC has recorded the best ever performance during the year just past (2010-11) by sanctioning cooperative projects of Rs 292 crore and disbursing Rs 4,703 crore in assistance.
The year also saw the finance institution launch new schemes that generate alternative avenues of employment for inclusive growth of the rural population.
It is now extending financial assistance to varied new sectors such as tourism, hospitality and transport, electricity and power, rural housing, hospitals, healthcare and education. Other new schemes recently launched include a cooperative enterprise development fund for financing new and small projects; working capital assistance for primary cooperatives/women's credit cooperatives and for creation of infrastructure by cooperative credit institutions; and a corporate social responsibility programme for community welfare projects.
MAJOR BENEFICIARY
Kerala has emerged as a major beneficiary of NCDC funds, accounting for a cumulative financial assistance of Rs 3520.88 crore as on March 31 this year.
During 2010-11, the State stood first with respect to both sanctions and disbursement of NCDC financial assistance, Mr George said.
Sanctions and releases to the State reached an all-time high of Rs 1,101 crore and Rs 1,110 crore respectively during the period, making up around 18 per cent of the total sanctions and 24 per cent of the total releases.
At least, 285 cooperatives in the State benefited from NCDC funding through State Government/direct funding routes during the last fiscal.