Why 'Sahkar Se Samriddhi' Scheme in News?

The 'Sahkar Se Samriddhi’ scheme, launched by the Ministry of Cooperation, aims to strengthen, improve performance, and expand the reach of cooperative societies to the grassroot level. Several initiatives include making Primary Cooperatives economically vibrant, implementing an Decentralized Grain Storage Plan, prioritising PACs for certain businesses like retail/diesel outlets and generic medicines distribution at rural level, and the efforts to integrate cooperatives with various government schemes. Measures to strengthen Urban and Rural Cooperative Banks include allowing banks to open new branches, make one-time loan settlements, and more. The Ministry also took steps to relieve Cooperative Societies in Income Tax Act including reduced surcharges and tax rates for new cooperatives. Initiatives like the world’s largest Cooperative University and computerization of various aspects of cooperation to facilitate 'Ease of Doing Business' have also been implemented. The government has approved a project for computerizing

Important Points to remember:

  1. Understand the role of cooperative societies and the purpose of the ‘Sahkar Se Samriddhi’ scheme.
  2. Familiarize with the initiatives taken by the Ministry of Cooperation under this scheme.
  3. Understand the benefits offered to Primary Agricultural Credit Societies (PACS) and Urban and Rural Cooperative Banks.
  4. Understand the tax reliefs given to cooperative societies.
  5. Understand the different new societies formed at National Level.
  6. Understand the importance of Capacity Building in Cooperatives and use of Information Technology.
  7. Look into the details of funds released for different schemes and projects.