Amit Shah Announces NCDC Disbursement of ₹95,200 Crore for Cooperatives

The Union Home and Cooperation Minister, Amit Shah, announced that the National Cooperative Development Corporation (NCDC) disbursed ₹95,200 crore in the fiscal year 2024-25 to support cooperative societies. This significant financial support was highlighted during the NCDC’s 92nd General Council Meeting, where Shah praised the organization for its initiatives, including the forthcoming launch of India’s first cooperative-based ride-hailing service, Bharat Taxi.

Shah detailed the remarkable growth of the NCDC, noting that its total disbursement had surged from ₹24,700 crore in the fiscal year 2020-21 to the current figure. He described the NCDC as playing “a key role” in the establishment of the Bharat Taxi service, which aims to enhance the cooperative model in transportation. The registration of a new multi-state cooperative society is complete, and efforts are underway for driver enrollment and technological development.

Strong Financial Growth and Support Initiatives

In the past four years, the NCDC has achieved a compound annual growth rate exceeding 40%. It has also maintained a zero net non-performing asset (NPA) status, culminating in its highest-ever net profit of ₹807 crore. Shah emphasized the importance of fostering a circular economy within the sugar and dairy sectors to bolster profitability and sustainability.

Additionally, the NCDC is set to mobilize ₹20,000 crore based on a government grant of ₹2,000 crore approved on 31 July 2025. This funding will be directed towards providing long-term and working-capital loans at concessional rates to various sectors, including dairy, livestock, fisheries, sugar, textiles, food processing, agriculture, and women cooperative societies. This initiative underscores the government’s commitment to enhancing the financial accessibility and operational capabilities of cooperative societies across India.

The support from the NCDC, as outlined by Shah, not only strengthens cooperative initiatives but also aims to improve the livelihoods of members involved in these sectors. The ongoing development of the Bharat Taxi service marks a notable step in leveraging cooperative models to drive innovation in the ride-hailing market.