The Union Budget 2025-26 introduces several initiatives that significantly impact cooperatives, particularly in the agricultural and MSME sectors:
1. Agriculture and Cooperatives:
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Prime Minister Dhan-Dhaanya Krishi Yojana: This program, in partnership with states, targets 100 districts with low productivity to benefit 1.7 crore farmers. Cooperatives in these regions can play a pivotal role in implementing strategies to enhance productivity and credit access.
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Mission for Aatmanirbharta in Pulses: A six-year mission focusing on Tur, Urad, and Masoor pulses. Central agencies like NAFED and NCCF will procure these pulses from farmers over the next four years, providing cooperatives with opportunities to support procurement and distribution.
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Comprehensive Programme for Vegetables & Fruits: Launched in partnership with states, this program aims to promote production, efficient supply chains, processing, and ensure remunerative prices for farmers. Cooperatives can facilitate these objectives by organizing farmers and streamlining processes.
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Makhana Board in Bihar: The establishment of this board aims to improve the production, processing, value addition, and marketing of makhana. Cooperatives in Bihar can collaborate with the board to enhance member benefits.
2. MSMEs and Cooperatives:
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Revised Classification Criteria for MSMEs: The investment and turnover limits for MSME classification have been enhanced to 2.5 and 2 times, respectively. This change allows cooperatives to scale operations while retaining MSME benefits.
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Customized Credit Cards for Micro Enterprises: A new initiative offers credit cards with a ₹5 lakh limit for micro enterprises registered on the Udyam portal, with plans to issue 10 lakh cards in the first year. Cooperatives can assist members in accessing this credit facility.
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Scheme for First-time Entrepreneurs: A scheme targeting 5 lakh women, Scheduled Castes, and Scheduled Tribes first-time entrepreneurs, providing term loans up to ₹2 crore over the next five years. Cooperatives can support eligible members in leveraging this scheme.
These initiatives underscore the government’s commitment to strengthening cooperatives by enhancing credit access, promoting sustainable agricultural practices, and supporting entrepreneurial growth among cooperative members.