Parliament has passed the National Co-operative Development Corporation(NCDC) (Amendment) Bill, 2026 with Rajya Sabha approving it today. Lok Sabha has already passed the Bill. Minister of State for Cooperation Murlidhar Mohol moved the bill, which aims to further amend the National Co-operative Development Corporation Act, 1962.
The Bill allows the Corporation to undertake its activities in industrial goods. The legislation also allows the state governments to extend funding from the Corporation to any entity engaged in co-operative development. The Corporation can also provide loans and grants directly to any co-operative society or entity engaged in co-operative development.
Replying to discussion, Mr Mohol said that through this Bill, the welfare and economic empowerment of crores of farmers across the country will be strengthened. He noted that NCDC, was established to provide financial assistance for the organised and sustained development of the cooperative sector in the country.
The Minister highlighted that from the establishment of NCDC in 1963 until 2014, the previous government provided financial assistance of only around 45 thousand crore rupees. He, however, said, in the last 12 years since 2014, financial assistance has increased to around four lakh crore rupees.
The Minister highlighted that India’s cooperative sector is among the largest cooperative networks in the world. Mr Mohol said that today, the country has more than eight lakh cooperative societies, with around 30 crore members associated with them. He informed that 80 thousand Primary Agricultural Credit Societies, PACS, are being computerised and have been enabled to undertake around 25 different types of business activities.
The Minister informed that Tribhuvan Sahkari University has been established to provide trained and skilled manpower to the cooperative sector. Mr Mohol said that through this institution, around 17 lakh young people will be trained over the next five years and will contribute to the cooperative sector. He said, more than 163 major initiatives have been undertaken in the cooperative sector in just last five years.
