Tuesday, May 31, 2005
Tuesday, May 31, 2005 |
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Advts: Classifieds | Employment | Andhra Pradesh
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Visakhapatnam
Staff Reporter
VISAKHAPATNAM: Cooperative societies in the State will be restructured and strengthened with an outlay of Rs.217 crores, according to the Minister for Cooperation, Kanna Lakshminarayana. He told a media conference here on Monday that the Cabinet sub-committee, formed to suggest changes in the cooperative sector, had felt that it was necessary to revamp the cooperative sector. While the viable cooperatives would be allowed to continue, the remaining would be merged to make them profitable. Mr. Lakshminarayana indicated that elections to cooperatives would be held by the end of July. Stating that there were loopholes in the 1995 Model Act, he said that the sub-committee was studying the same and would suggest amendments. Only official leaseholders and farmers who owned one acre of dry land and half acre of wet land would be eligible to vote in elections to cooperative societies.
Target 2,800 crores
The Minister said that the target for the current fiscal was to give Rs.2,800 crores as short term loan and Rs.200 crores as long term loans during both kharif and rabi seasons. "Cooperatives in East and West Godavari districts are doing well, while those in Srikakulam and Vizianagaram are not up to the mark and the ones in Visakhapatnam are midway. The cooperatives in Srikakulam and Vizianagaram would be strengthened by pumping Rs.60 crores,'' he added.
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