Updated By: LatestGKGS Desk
Agriculture Ministry: NCDC’s new scheme Yuva Sahakar to promote young entrepreneurs
Agriculture Ministry: NCDC’s new scheme Yuva Sahakar to promote young entrepreneurs in cooperatives: Details, Features, Aim, Highlights
Union Ministry of Agriculture has launched a new scheme named “Yuva Sahakar-Cooperative Enterprise Support and Innovation Scheme”.
It was unveiled by Agriculture Minister Radha Mohan Singh while inaugurating the 65th All India Cooperative Week organised by the National Cooperative Union of India (NCUI) on 14th November 2018 in New Delhi.
The scheme aims to provide cheaper loans to startups in the cooperative sector.
This scheme will be implemented by National Cooperative Development Corporation (NCDC) by linking it to Rs 1000 crore ‘Cooperative Start-up and Innovation Fund (CSIF) created by it.
This schemes would provide term loans with 2% less than the applicable rate of interest to projects costing up to Rs 3 crore including 2 years moratorium on payment of principal.
General category projects would be provided 70% of the project cost whereas special catergories would be getting about 80% of the project cost.
Besides more incentives will be provided for cooperatives of North Eastern region, Aspirational Districts and cooperatives with women or SC or ST or PwD members.
This is a part of Sahakar 22, a Mission for Doubling Farmers’ Income by 2022, embarked on by NCDC.
National Cooperative Development Corporation (NCDC)
NCDC is an ISO 9001:2015 compliant organisation and has a distinctive edge of competitive financing. It supports cooperatives in diverse fields apart from agriculture and allied sectors.
Headquarters: New Delhi
MD: Sundeep Kumar Nayak
