[pib] Yuva Sahakar Scheme

Mains Paper 2: Governance | Government policies and interventions for development in various sectors

From UPSC perspective, the following things are important:

Prelims level: Particulars of the Scheme

Mains level: Promoting cooperatives business venture

Yuva Sahakar-Cooperative Enterprise Support and Innovation Scheme

To cater to the needs and aspirations of the youth, the National Cooperative Development Corporation (NCDC) has come up with a youth-friendly this scheme for attracting them to cooperative business ventures.
The newly launched scheme would encourage cooperatives to venture into new and innovative areas.
The scheme will be linked to Rs 1000 crore ‘Cooperative Start-up and Innovation Fund (CSIF)’ created by the NCDC.

Funding

The funding for the project will be up to 80% of the project cost for these special categories as against 70% for others.
The scheme envisages 2% less than the applicable rate of interest on term loan for the project cost up to Rs 3 crore including 2 years moratorium on payment of principal.

Eligibility

It would have more incentives for cooperatives of North Eastern region, Aspirational Districts and cooperatives with women or SC or ST or PwD members.
All types of cooperatives in operation for at least one year are eligible.

NCDC

Nodal Agency: Ministry of Agriculture & Farmers Welfare
The NCDC has the unique distinction of being the sole statutory organisation functioning as an apex financial and developmental institution exclusively devoted to cooperative sector.
It supports cooperatives in diverse fields apart from agriculture and allied sectors.
It is an ISO 9001:2015 compliant organisation and has a distinctive edge of competitive financing.

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