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NABARD and Sustainable Development Initiatives
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NABARD and Sustainable Development Initiatives

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@LuxuriantDryad

Questions and Answers

What is the primary objective of the SHG-BLP launched by NABARD in 1992?

To foster rural prosperity by linking self-help groups with banks.

How much has NABARD mobilised through social bonds in FY2024?

₹1,040.5 crore.

What is the total amount of outstanding loans linked to SHGs as stated in the content?

₹2.59 lakh crore.

What key initiative did NABARD introduce to enhance its internal capabilities?

<p>'UNNATI'.</p> Signup and view all the answers

What notable financial milestone did NABARD's balance sheet reach by March 31, 2024?

<p>₹9.1 lakh crore.</p> Signup and view all the answers

How many projects has NABARD funded under climate financing, and what is their total worth?

<p>40 projects worth ₹1,971.5 crore.</p> Signup and view all the answers

What was the market condition regarding global growth during the year as mentioned in the content?

<p>Greater-than-expected resilience to high interest rates.</p> Signup and view all the answers

What strategy has NABARD developed for prioritising investments in green portfolios?

<p>A green taxonomy.</p> Signup and view all the answers

What digital initiative aims to integrate data from farmers into national registries?

<p>The digital crop survey for kharif crops aims to integrate data from 6 crore farmers into national registries.</p> Signup and view all the answers

How will shrimp farming and its export potential be boosted in India?

<p>A network of nucleus breeding centres for shrimp brood stocks will be established to enhance shrimp farming and exports.</p> Signup and view all the answers

What is the objective of the Pradhan Mantri Janjati Unnat Gram Abhiyan?

<p>The objective is to improve the socio-economic condition of tribal communities.</p> Signup and view all the answers

What role does the National Cooperation Policy play in the cooperative sector?

<p>The National Cooperation Policy aims for the systematic and all-round development of the cooperative sector.</p> Signup and view all the answers

In which year was the Cooperative Credit Societies Act enacted?

<p>The Cooperative Credit Societies Act was enacted in 1904.</p> Signup and view all the answers

What is the constitutional status of cooperative societies in India?

<p>Cooperative societies are a state subject under Entry 32 of the State List of the Seventh Schedule of the Constitution of India.</p> Signup and view all the answers

Which act governs cooperative societies functioning within a single state in India?

<p>The Cooperative Societies Act of their respective state or Union Territory governs these societies.</p> Signup and view all the answers

What significant trend was observed in the consumption basket of households in India during the period August 2022 to July 2023?

<p>There was a distinct decline in the share of food, particularly cereals, in the total monthly per capita consumption expenditure.</p> Signup and view all the answers

What initiative is focused on increasing women's participation in the workforce?

<p>Women-specific skilling programmes and promotion of market access for women self-help groups aim to increase participation.</p> Signup and view all the answers

How did the decline in shares of food items like cereals and sugar correlate with environmental conditions in India?

<p>The decline coincided with an increase in water stress reported in India.</p> Signup and view all the answers

What agricultural practices are suggested to improve resilience against climatic shocks?

<p>Water-conserving agricultural practices need to be promoted.</p> Signup and view all the answers

What was the growth rate of credit flow to agriculture during FY2024?

<p>Credit flow to agriculture registered a growth of 13.6% during FY2024.</p> Signup and view all the answers

What role does the Kisan Credit Card (KCC) scheme play in Indian agriculture?

<p>The KCC scheme provides timely credit to farmers.</p> Signup and view all the answers

What has been the trend of India's annual agricultural exports since FY2022?

<p>India's annual agricultural exports have hovered around $50 billion since FY2022.</p> Signup and view all the answers

What is a key characteristic of India's agricultural export basket?

<p>The export basket remains highly concentrated, with rice and sugar accounting for more than one third of total exports.</p> Signup and view all the answers

What implications do the changing consumption patterns have for resource allocation in agriculture?

<p>Changing consumption patterns suggest a need for reallocation of resources, including credit, to promote production of food items likely to be in higher demand.</p> Signup and view all the answers

What was the total value of agricultural exports during FY2024?

<p>$48.8 billion</p> Signup and view all the answers

What initiative was launched to reduce post-harvest losses for farmers?

<p>World's Largest Decentralised Grain Storage Plan (WLGSP)</p> Signup and view all the answers

How many new primary cooperative societies are targeted for establishment in the next five years?

<p>2 lakh</p> Signup and view all the answers

What is the purpose of the 'Lakhpati Didis' programme?

<p>To enable women SHG members to generate an annual household income exceeding ₹1 lakh</p> Signup and view all the answers

What role do Farmer Producers' Organisations (FPOs) play in enhancing farmers' income?

<p>They enhance bargaining power and improve access to inputs for farmers.</p> Signup and view all the answers

By March 31, 2024, how many households were linked through self-help groups (SHGs)?

<p>17.7 crore households</p> Signup and view all the answers

What diversification steps are being taken by primary agricultural credit societies (PACS)?

<p>Diversifying into retail distribution, custom hiring, fair price shops, and godowns.</p> Signup and view all the answers

What are the expected benefits of establishing new multi-state cooperative societies?

<p>They will focus on exports, certified seeds, and organic products.</p> Signup and view all the answers

What is the overarching vision behind the new National Cooperation Policy document?

<p>'Sahakar se Samriddhi'</p> Signup and view all the answers

How many PACS have begun providing Common Service Centre (CSC) services to rural citizens?

<p>35,379 PACS</p> Signup and view all the answers

What organizations signed the memorandum of understanding to provide e-services through PACS?

<p>Ministry of Cooperation, Ministry of Electronics and Information Technology, NABARD, and CSC e-Governance Services India Limited</p> Signup and view all the answers

What is one of the fundamental principles of the cooperative movement emphasized in the text?

<p>Cooperation amongst Cooperatives</p> Signup and view all the answers

What role does NABARD play in supporting the cooperative sector as mentioned in the document?

<p>NABARD conducts periodic inspections of supervised entities including cooperative banks.</p> Signup and view all the answers

When was the pilot project to promote 'Cooperation amongst Cooperatives' launched?

<p>12 July 2023</p> Signup and view all the answers

What impact is expected from the memorandum of understanding signed between various ministries and NABARD regarding PACS?

<p>Increased access to e-services and higher income for PACS.</p> Signup and view all the answers

What specific cooperative sector is targeted by the pilot project launched in Banaskantha and Panchmahal?

<p>Primary dairy cooperative societies</p> Signup and view all the answers

Study Notes

NABARD and Rural Development

  • NABARD has established various sustainable models for rural prosperity, notably the Self-Help Group--Bank Linkage Programme (SHG-BLP) launched in 1992.
  • SHG-BLP links 1.44 crore SHGs with savings and 77.4 lakh SHGs with credit, amounting to ₹65,089.20 crore in deposits and ₹2.59 lakh crore in loans.
  • As the National Implementing Entity for three major climate financing funds, NABARD has invested ₹1,971.5 crore in 40 projects.
  • NABARD developed a green taxonomy to direct investments into sustainable projects.
  • The balance sheet of NABARD reached ₹9.1 lakh crore by 31 March 2024, marking a 13.6% growth from FY2023.
  • Mobilized ₹1,040.5 crore through India’s inaugural AAA-rated rupee-denominated social bonds in FY2024, emphasizing social impact.
  • Initiated the Five-Year Strategic Plan 'Pragati 1.0' (from April 1, 2023) and 'UNNATI' for internal capability enhancement.

Global Macro-Financial Conditions

  • Global growth remained resilient despite high interest rates, avoiding the anticipated global recession due to improved labor participation and falling food prices.
  • The share of food in household consumption has decreased, especially for cereals and sugar, amidst increasing water stress in India.
  • The shift in consumption patterns indicates a need for resource reallocation towards crops with rising demand.

Agricultural Financing and Exports

  • Credit flow to agriculture grew by 13.6% in FY2024, surpassing the nominal growth rate of agricultural GVA at 5.4%.
  • Kisan Credit Card (KCC) scheme supports over 7.4 crore farmers with ₹8.9 lakh crore in outstanding credit.
  • Agricultural exports remained stable around $50 billion, with FY2024 exports at $48.8 billion, despite government-imposed curbs on rice and sugar.

Agricultural Supply Chain Initiatives

  • Launched the World’s Largest Decentralized Grain Storage Plan (WLGSP) to reduce post-harvest losses and improve farmers' pricing power.
  • Planned to create 2 lakh new multipurpose PACS/dairy/fishery societies over five years, diversifying cooperative functions.
  • Introduced new multi-state cooperative societies focusing on exports, certified seeds, and organic products.

Women Empowerment and Digital Infrastructure

  • 'Lakhpati Didis' program aims to help women SHG members sustainably earn over ₹1 lakh annually.
  • Promotion of 10,000 Farmer Producers' Organisations (FPOs) to bolster farmers’ bargaining power and income.
  • A digital crop survey for kharif crops to streamline agricultural service access for 6 crore farmers.

Cooperative Movement in India

  • Key milestones in the cooperative movement include the Cooperative Credit Societies Act (1904) and the establishment of the Reserve Bank of India (1934).
  • Cooperative societies are a state subject under the Constitution, with governance guided by respective state laws.

NABARD's Role in Cooperatives

  • NABARD supports community service through PACS by providing over 300 e-services, enhancing rural incomes.
  • A pilot project to promote 'Cooperation amongst Cooperatives' seeks to strengthen financial ties between dairy societies and banks, improving self-reliance in the cooperative sector.

Overall Vision

  • NABARD aims to foster a cooperative-based economic development model, enhancing the economic landscape and social equity in rural India.

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Description

Explore the impact of NABARD's various programs aimed at fostering rural prosperity. This quiz will highlight initiatives like the Self-Help Group-Bank Linkage Programme and key climate financing efforts. Test your knowledge on how these contributions support sustainable and inclusive development in rural areas.

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