Innovation fund likely for co-op lenders to foster farm entrepreneurs

A committee charged with drafting a new national cooperation policy has recommended that a national innovation fund be set up to encourage entrepreneurship in primary agricultural credit societies (PACS), a member of the committee said.

- Puja Das

No specific size or outlay for the fund has been recommended; the Ministry of cooperation will take a call on the size, the member added, requesting not to be named.

The committee also recommended expanding the ambit of PACs which lend to farmers at the grassroots level-to bring in women, youth, and weaker sections including scheduled castes and scheduled tribes, especially in hill areas, with the help of farmer-producing organizations, self-help groups, and joint liability groups.