May 15, 2012 9:29 PM

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Govt approves package of around Rs. 14,000 cr to revamp cooperative credit structure

Government has approved a package of around 14 thousand crore rupees to revamp the cooperative credit structure in the country. Addressing a national conference on cooperative in New Delhi today, Agriculture Minister, Sharad Pawar said the government has also enacted a law to ensure democratic, autonomous and professional function of the cooperatives. He said it has approved the National Policy on cooperative aiming at providing necessary support and encouragement. Highlighting the role of cooperative in country's agriculture sector, the minister said it has significantly contributed in achieving the record food grain production of about 252 million metric ton during 2011-12 in the country. Speaking on this occasion, Former President, Dr. A.P.J Abdul Kalam said cooperative should work for inclusive growth in the country. He said with more than 6 lakh cooperative societies and 250 million members, the Indian cooperative sector is one of the largest cooperative movements in the world and it can play a big role in country's development. Mr. Kalam urged the cooperative society to work for betterment of land less farmer. Addressing the function, Minister of state for Agriculture, Harish Rawat said government is committed to assist the sector.

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