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NCUI welcomes Budgetary pledge of strengthening co-ops

National Cooperative Union of India (NCUI), an apex organization of the Cooperative Movement with focus on cooperative education and training has welcomed the government’s commitment to the development of multi-state cooperatives by providing all support to them in this year’s Budget. NCUI Chief Executive, Satya Narayana said, “The proposal to set up a separate administrative structure for multi-state cooperative societies will definitely strengthen these cooperatives to compete in the market economy. Such structural reforms are necessary so that these cooperatives become success stories. NCUI feels that enhancement of agricultural credit target to 16.5 lakh crore FY 22 is indeed heartening as this will provide cooperative credit institutions to cover a large section of the rural population, and most importantly, the dairy and fishery cooperatives will be benefitted by this.

Satya narayanaAgriculture infrastructure fundNational cooperative union of indiaIrrigation fundNational cooperative unionCooperative movementMicro irrigation fundChief executiveசத்யா நாராயணாதேசிய கூட்டுறவு தொழிற்சங்கம் ஆஃப் இந்தியாநீர்ப்பாசனம் நிதிதேசிய கூட்டுறவு தொழிற்சங்கம்கூட்டுறவு இயக்கம்மைக்ரோ நீர்ப்பாசனம் நிதிதலைமை நிர்வாகி

Budget 2021: Agri cos cheer higher allocation to farm sector

Updated Feb 01, 2021 | 20:51 IST Netafim India MD Randhir Chauhan welcomed the government s decision to double the allocation to the Micro Irrigation Fund (MIF) under NABARD to Rs 10,000 cr. Budget 2021: Agri cos cheer higher allocation to farm sector | Photo Credit: ANI New Delhi: Agri and food companies on Monday hailed the decision to hike farm credit target and increase allocation for the agriculture ministry in the Budget, saying this will help in boosting farmers income and overall growth of the sector. Asserting that the government is committed towards farmers welfare, Finance Minister Nirmala Sitharaman on Monday proposed 10 per cent hike in the farm loan disbursal target to Rs 16.5 lakh crore, and introduced an agri infra and development cess of up to 100 per cent to create post-harvest infrastructure for improving farmers income.

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SC upholds IT exemption for credit co-ops; NCUI hails verdict

N Satya Narayana, Chief Executive of the apex co-op body NCUI has welcomed the Supreme Court verdict on January 12 upholding income tax exemption under Section 80P for primary agricultural credit societies. Tweeting on the issue, Satya Narayan wrote “NCUI welcomes SC verdict on Jan 12 upholding IT exemption under Section 80 P for primary agricultural credit societies, except coop banks under RBI operating license–N Satya Narayana, CE, NCUI” The verdict, exempting credit societies and other primary societies from paying income tax, was delivered by a three-judge bench comprising justices R.F. Nariman, Naveen Sinha and K.M. Joseph. The SC ruling came on the Kerala High Court’s full bench verdict of March 2019.

Naveen sinhaSatya narayanKince vargheseN satya narayanaSupreme courtKerala high courtIncome tax departmentMavilayi service cooperative bankKerala cooperative societiesChief executiveKerala cooperative societies actReserve bankIncome taxSatya narayanaFrom statesநவீன் சீன்ஹா

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