The Union Home and Cooperation Minister recently proposed a comprehensive five-year plan aimed at boosting the financial capacity of sugar mills in India.

During the 91st General Council meeting of the National Cooperative Development Corporation (NCDC), the Minister highlighted the government's commitment to enhancing the living standards of farmers through the cooperative sector. The NCDC's role is crucial in promoting self-reliance through cooperative efforts, especially in rural areas.

The five-year plan specifically targets strengthening the financial position of cooperative sugar mills. The government aims to increase the funding allocated to sugar mills to Rs 25,000 crore.

This initiative is expected to improve the financial health, sustainability, and growth of the sugar industry, creating a strong foundation for its long-term development. The proposal is part of a broader effort to support the cooperative sector, which has a significant role in the rural economy.

In addition to the sugar industry, the Minister also stressed the need to explore deep-sea fishing opportunities in coastal states like Odisha, Andhra Pradesh, and Kerala, and to promote milk cooperative unions in the northeastern states as part of the second phase of the White Revolution.

This integrated approach is designed to address the challenges faced by various cooperative sectors and improve their overall performance, ensuring sustained development in these areas.