Union Home Minister Amit Shah stated on Wednesday that the central government is resolved to elevate the standard of living of crores of people through cooperatives in accordance with the 'Sahakar Se Samriddhi' mantra.
Shah praised the Union Budget 2023 for allocating funds to the cooperative sector in a series of tweets.
Farmers affiliated with cooperative societies will be able to earn a fair price for their produce by selling it at the right moment, according to the proposal to build the world's largest decentralised storage capacity. This will play a vital part in Prime Minister Narendra Modi's determination to enhance farmer income, he said. The exceptional budget decisions made today to develop the cooperative sector, according to Shah, are a symbol of this dedication.
According to the Minister of Cooperation, the government would also establish new multipurpose cooperative societies, primary fisheries organisations, and dairy cooperative societies in each panchayat during the next five years.
This will give the cooperative movement a fresh direction and pace, empowering this sector. Shah also thanked Prime Minister Modi for preserving industrial cooperative societies constituted through March 31, 2024, in the 15 per cent tax net only.
The decision to cap TDS on cash withdrawals at Rs 3 crore and increase the limit for cash deposits and loans to Rs 2 lakh per member for Primary Agriculture Credit Society (PACS) and Primary Cooperative Agricultural and Rural Development Banks (PCARDBs) is commendable.
Union Minister Piyush Goyal said on Wednesday that Finance Minister Nirmala Sitharaman's Union Budget 2023-24 reflects Prime Minister Narendra Modi's vision for India, which is entering the 'Amrit Kaal' to become a developed nation in the next 25 years.
Union minister Goyal stated, "The budget is a well-thought-out strategy to make India a developed country in the next 25 years as India enters 'Amrit Kaal' as envisioned by Prime Minister Modi. This budget is the first step towards becoming a developed nation. Nirmala ji presented this budget to create the foundation for this. The budget will strengthen the country for a long time and create a foundation for the economy " news agency ANI quoted him as saying.
He stated that the entire world believes India will provide a significant boost to the global economy.
(With Inputs From ANI)