New Multipurpose Primary Agricultural Credit Societies (MPACS) Launched

The Government of India has recently inaugurated 10,000 new Multipurpose Primary Agricultural Credit Societies (MPACS) to enhance rural development, aims to modernize the cooperative sector and improve financial access for farmers.

Inauguration Highlights

Union Home Minister Amit Shah led the inauguration in New Delhi. He paid tribute to notable figures such as Pandit Madan Mohan Malviya and Atal Bihari Vajpayee. The event also recognized C. Rajagopalachari’s contributions to India’s Constitution.

The launch coincides with Atal Bihari Vajpayee’s birth centenary. Shah emphasized that Vajpayee’s leadership boosted India’s cooperative framework. The 97th Constitutional Amendment was very important in this progress.

Operational Achievements

Within 86 days of implementing an operational plan, 10,000 PACS were registered. The government aims to establish 2 lakh new PACS to support rural economies.

Key initiatives include the computerisation of PACS and the integration of 32 essential functions. These enhancements aim to improve efficiency in services such as storage and fertiliser distribution.

Training and Development

Training programs are being introduced for PACS members and employees. Amit Shah urged district registrars to ensure that PACS secretaries receive adequate training.

Financial Access Improvements

During the event, RuPay Kisan Credit Cards and Micro-ATMs were distributed to cooperative societies. These tools will enhance financial inclusion and provide affordable loans to farmers.

The expansion of PACS is guided by principles of visibility, relevance, viability, and vibrancy. The government plans to establish three new national cooperatives focused on organic farming and quality seeds.

Inclusivity in Cooperatives

New model bylaws will promote the participation of women, Dalits, and tribal communities. This initiative aims to encourage equality and social harmony within the cooperative framework.

With 11,695 new cooperatives registered, the government is optimistic about achieving its targets ahead of schedule. This initiative seeks to strengthen the rural economy and create job opportunities for sustainable growth.

GKToday Notes:

1. Multipurpose Primary Agricultural Credit Societies (MPACS): MPACS aim to enhance rural development in India. They provide financial services to farmers, promoting agricultural growth and improving livelihoods through cooperatives.
2. 97th Constitutional Amendment: The 97th Constitutional Amendment strengthened the cooperative sector in India. It aimed to enhance democratic governance within cooperatives, ensuring transparency and accountability in their operations.
3. RuPay Kisan Credit Cards: RuPay Kisan Credit Cards facilitate easy access to credit for farmers. They promote financial inclusion, enabling farmers to obtain affordable loans for agricultural activities and related expenses.

Month: Current Affairs - December, 2024

Category: Agriculture Current Affairs