Union Cooperation Minister Amit Shah launched 10,000 new multi-purpose Primary Agricultural Cooperative Societies (PACS).
The government will achieve its target of establishing 2 lakh such societies before the five-year timeline.
The initiative will be rolled out in two phases. In the first phase, NABARD establishing 32,750 M-PACS.
NDDB will set up 56,500 dairy cooperatives and NFDB 6,000 fishery cooperatives.
In the second phase, NABARD will create 45,000 M-PACS, NDDB will establish 46,000 dairy cooperatives and NFDB 5,500 fishery cooperatives. State governments will form about 25,000 new cooperatives.
Under current norms, a second PACS cannot be established in villages.
