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Topic

What are Primary Agricultural Credit Societies (PACS)? Discuss the various programmes implemented by the Government to strengthen the Primary Agricultural Credit Societies in the country. (250 Words)
 
Introduction
 
Start your answer by writing about PACS in general
 

Primary Agricultural Credit Societies (PACS) are village-level cooperative credit societies that provide short-term credit to farmers. They are the last link in a three-tier cooperative credit structure, with State Cooperative Banks (SCBs) at the state level and District Central Cooperative Banks (DCCBs) at the district level.

PACS play an important role in providing credit to farmers, especially small and marginal farmers. They also provide other services to farmers, such as marketing agricultural produce, input supply, and insurance.


 
Body
 
Write the body of your answer addressing the main crux of the question which is various programmes implemented by the Government to strengthen the PACS
 

The Government of India has implemented several programmes to strengthen PACS. These include:

  • The National Agricultural Credit (Long Term) Fund (NACLF) provides long-term loans to PACS for on-lending to farmers.
  • The Rural Infrastructure Development Fund (RIDF) provides loans to PACS for financing rural infrastructure projects, such as the construction of roads, water supply schemes, and warehouses.
  • The Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) provides financial assistance to PACS for setting up micro-irrigation systems.
  • The Pradhan Mantri Fasal Bima Yojana (PMFBY) provides crop insurance to farmers through PACS.
 
 
Conclusion
 
Your conclusions should be balanced, simple and short
 
Overall, these programs aim to strengthen the institutional capacity of PACS, enhance their outreach, and ensure affordable and timely credit to farmers, thereby promoting agricultural growth and rural development in the country.
 
 
02-Jun 2023
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