The Cabinet Committee on Economic Affairs (CCEA) authorized the computerization of 63,000 functioning Primary Agricultural Credit Societies (PACS) over a five-year period with a total budget investment of Rs 2,516 crore on Wednesday.
The central government's contribution will be Rs 1,528 crore. With 130 million farmers as members, the PACS is the lowest tier of the three-tier short-term cooperative credit (STCC).
According to the government, the majority of PACS have not yet been automated and are still operated manually, resulting in inefficiency and a lack of confidence. "Some states have completed standalone and partial computerization of PACS.
There is no consistency in the software they utilize, and they are not linked. "It has been recommended to computerize all PACS around the country and bring them on the same platform at the national level, as well as to establish a common accounting system for their day-to-day activity," the statement continued.
"This software will be in vernacular language, with the ability to be customized to meet the demands of the states." PMUs (Project Management Units) will be established at the federal and state levels. A cluster of roughly 200 PACS will also receive District Level Support," according to a release.
"Whether it is the establishment of the Ministry of Cooperation or policies implemented thereafter in the direction of empowering this sector, they show that PM Modi's 'Sahakar Se Samridhi' is not just a slogan.
PM has an unwavering resolve to bring positive change to the lives of those associated with the cooperative sector," said Amit Shah in a series of tweets.
