Haryana gets Rs 200 crore for strengthening cooperatives

Chandigarh, Feb 1 (UNI) The Haryana Government has received a sum of Rs 240.34 crore from the Centre for strengthening the cooperative structure and improving financial position of the cooperative sector in the State.

Revealing this here today Cooperation Minister H S Chatha said that a Memorandum of Understanding (MoU) was signed with the Union Government and NABARD by the State Government under which the cooperative sector of the State would get a sum of Rs 704 crore for strengthening the financial position of the sector.

Mr Chatha said that under the interest waiving schemes of cooperative loans launched in the State, the Haryana State Cooperation Agricultural and Rural Development Bank had waived off interest to the tune of Rs 256 crore upto December last to those farmers, artisans and petty shopkeepers who had not deposited their amount upto June 30, 2006.

The Minister said that Chief Minister Bhupinder Singh Hooda had provided a number of concessions to the farming community.

The rate of interest had been reduced on short term agricultural loans from 11 per cent to 7 per cent, he pointed out.

He said that at present about 34,500 cooperative societies are working in the state having membership of 51.83 lakh. The societies are engaged in the disbursement of adequate credit and providing marketing facilities to the people.

UNI HS JS PJ RN1908