National Cooperative Development Corporation Act, 1962 Provides for planning and promoting programmes for the production, processing, marketing, storage, export and import of agricultural produce, foodstuffs, industrial goods, livestock, certain other commodities and services on co-operative principles and for matters connected therewith or incidental thereto.
Since inception and till 31March, 2021, NCDC has disbursed Rs.1.77 lakh crore to cooperatives for their development. It includes assistance to agricultural and horticulture cooperative societies. NCDC plans and promotes programmes on co-operative principles. It assists cooperatives only. NCDC financial assistance schemes encourage and attract people to form new cooperatives for carrying out business activities.
This was stated by the Union Minister of Home and Cooperation, Shri Amit Shah in a written reply to question in the Lok Sabha on August 10.
• NCDC has extended cumulative financial assistance to cooperatives to the tune of Rs.1.86 lakh crore as on 30.06.2021.
• Out of this, Rs.1.31 lakh crore has been disbursed in the last seven years (since 2014-15) signifying 286% increase compared to the period, 1963-2014.
• To encourage youth towards cooperatives, NCDC has launched its YUVA SAHAKAR Cooperative Enterprise Support and Innovation Scheme.