Schemes being implemented under State Annual Plan
The State Government with an objective to strengthen the capital base of different kinds of cooperative societies and to provide incentives to the societies, is providing financial assistance under State Annual Plan, which comprises of SCSP and Tribal Sub-Plan. The schemes currently being implemented, along with the norms fixed for availing financial assistance under them is detailed below :
Share Capital to Cooperative Societies
Under this scheme share capital is provided to Primary Cooperative societies including Primary Agriculture Credit Cooperative Societies, Consumer Cooperatives, Marketing Cooperatives, Fisherman Cooperatives and Industrial Cooperatives. The contribution of share capital by the Govt. in any society is based on the norms approved by the Finance Department, which requires the following :
- The quantum of additional Govt. share in a year will be restricted to a maximum of 90% of the increase in the society's own share.
- Society should have increased its turnover by 10% or 10% improvement in recovery performance over the preceding year.
- Society should not have incurred a loss of more than 5% of its turnover.
Managerial Subsidy to Cooperatives
This scheme is presently being implemented only under Tribal Sub-Plan (State Plan). Managerial subsidy is sanctioned to the societies engaged in PDS work. This assistance is mainly given to the society for offsetting their wage liabilities of the staff engaged in PDS work. The subsidy is granted subject to a maximum of 50% of the wage bill of a cooperative society.
Interest subsidy to Primary Agriculture Credit Societies
Under this scheme subsidy is granted to the societies only under Tribal Sub Plan(State Plan) which are engaged in PDS work on the cash credit limits availed by them from the banks. The subsidy is to the extent of 100% of the interest actually paid to the financing bank.
Differential rate of interest subsidy
Under this scheme interest subsidy is sanctioned to credit cooperatives on loans advanced to SCs/STs/IRDP families subject to the condition that beneficiaries will bear interest upto 4% and difference will be subsidized by the Govt. under Tribal Sub-Plan(State Plan)
Working capital subsidy
Under this scheme subsidy is admissible only to societies under Tribal Sub-Plan to a maximum of Rs.1.00 lac.
Under this scheme subsidy is granted to those societies engaged in consumer business, for construction of godowns. It is subject to the condition that concerned society shall contribute at least 10% of the project cost. The maximum assistance admissible is Rs.1.00 lac. This scheme is being implemented only under Tribal Sub Plan.
Price Fluctuation fund subsidy
Under this scheme subsidy to the extent of 5% of the total outright purchase of agriculture/horticulture/minor forest produce is provided as an incentive to marketing cooperatives under Tribal Sub-Plan (Stae Plan) for minor forest produce.
Under this scheme subsidy is granted for member enrolment to the cooperative societies for SCs/STs/IRDP families. The value of one share to be purchased by the member of these categories is subsidized by the Govt. This scheme is being implemented under Tribal Sub-Plan (State Plan)