Cooperative Boost: Kerala Receives Over Rs 1,380 Crore in Assistance from Centre in Last 3 Years
Kerala has received financial assistance totaling over Rs 1,380 crore from the central government in the last three years for cooperative societies. The assistance, provided under the Ministry of Cooperation’s National Cooperative Development Corporation (NCDC), aims to facilitate easy access to credit and finance for cooperatives. In the fiscal year 2022-23 alone, Kerala received Rs 704.74 crore, following Rs 371.85 crore in 2021-22 and Rs 303.54 crore in 2020-21. The central assistance supports cooperative development initiatives, despite ongoing disputes between the state and union governments over cooperative sector matters.
Key Points
Kerala received Rs 704.74 crore in financial assistance for cooperative societies from the central government in the fiscal year 2022-23.
The assistance is provided under the Ministry of Cooperation’s National Cooperative Development Corporation (NCDC).
In the last three years, Kerala received a total of Rs 1,380.13 crore from the central government for cooperative development.
The NCDC disbursed Rs 56,196 crore to various cooperatives across the country as of January 31, 2024.
Ongoing disputes between the state and union governments involve issues such as the merger of multi-state cooperative societies and alleged frauds in cooperative banks.
The financial assistance underscores the central government’s commitment to supporting cooperative development in Kerala, despite existing disagreements on certain cooperative sector issues.
