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Schemes for Development of Cooperative Societies

Proposals for sanctioning the scheme of Department emanate from the Co-operative societies. These are examined by concerned field officers and a committee at the District level. These proposals are also initiated on directions and also examined at the Directorate level. The proposals received from the Directorate are subjected to further scrutiny in the department and by the Departmental committee at the State level based on guidelines from planning and finance department and other departmental norms/criteria, financial sanctions are issued under the powers delegated or are referred to Planning and Finance Departments for approval and concurrence. The financial powers of the officers of the Department are as per the delegation of Financial Power Rules 1981 and succeeding amendments issued by Finance Department from time to time.

The details Schemes for the Development of Cooperative Societies in Meghalaya are:

I. Under State Plan

Financial Assistance in the shape of :

  • Share Capital Contribution.
  • Managerial Subsidy.
  • Financial Assistance / Grant in Aid.

II. Centrally Sponsored Schemes (Government of India)

Financial Assistance :

  • Share Capital Contribution.
  • Managerial Subsidy.
  • Loans :
  • Working Capital Loan.
  • Godown Loan.
  • Repairing and Renovation of godown.
  • For purchase of tools and implements.

III. Central Sector Schemes through National Cooperative Development Corporation

  • Assistance to Cooperative Societies:
  • Scheme for I.C.D.P. for man power Development and Training/Incentive for Business.
  • Assistance for contribution of godown and workshed of Primary Handloom Weavers.
  • Share Capital Contribution for strengthening the Share Capital base for Apex/Primary Marketing Societies.
  • Share Capital for Civil works/repair/renovation of godown/workshed.
  • Share Capital to Apex and Primary Marketing Society as Margin money.
  • Loans such as Working Capital, Loan Construction of godown, Repairs and Renovation.

Objective of the Schemes :

  1. The Government is providing Financial Assistance in the shape of Share Capital Contribution to the Cooperative Societies for strengthening the Share Capital base, so as to enable them to run their business and to generate income for augmenting the income and socio-economic condition of the poor tribal members of the Societies.
  2. Managerial Subsidy is being provided to the Cooperative Societies to enable them to meet some of the expenditures in regards to the cost of management purpose. Assistance is also being given to the Cooperative societies to utilize as margin money for borrowing purpose from the financial institutions.

Achievements:

The Cooperative Societies are welfare organization where individual joined in for augmenting their income generating capacity in economic activities by joint endeavor. The State Government extend financial assistance under various plan schemes to assist the Cooperative Societies in achieving their objectives.

Monitoring:

A system of periodical reviewing on the progress and quality in the implementation of the scheme of the department is already in place, at the state level and at the district level.