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?
Signup and view all the answers
What notable financial milestone did NABARD's balance sheet reach by March 31, 2024?
Signup and view all the answers
How many projects has NABARD funded under climate financing, and what is their total worth?
Signup and view all the answers
What was the market condition regarding global growth during the year as mentioned in the content?
Signup and view all the answers
What strategy has NABARD developed for prioritising investments in green portfolios?
Signup and view all the answers
What digital initiative aims to integrate data from farmers into national registries?
Signup and view all the answers
How will shrimp farming and its export potential be boosted in India?
Signup and view all the answers
What is the objective of the Pradhan Mantri Janjati Unnat Gram Abhiyan?
Signup and view all the answers
What role does the National Cooperation Policy play in the cooperative sector?
Signup and view all the answers
In which year was the Cooperative Credit Societies Act enacted?
Signup and view all the answers
What is the constitutional status of cooperative societies in India?
Signup and view all the answers
Which act governs cooperative societies functioning within a single state in India?
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?
Signup and view all the answers
What initiative is focused on increasing women's participation in the workforce?
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?
Signup and view all the answers
What agricultural practices are suggested to improve resilience against climatic shocks?
Signup and view all the answers
What was the growth rate of credit flow to agriculture during FY2024?
Signup and view all the answers
What role does the Kisan Credit Card (KCC) scheme play in Indian agriculture?
Signup and view all the answers
What has been the trend of India's annual agricultural exports since FY2022?
Signup and view all the answers
What is a key characteristic of India's agricultural export basket?
Signup and view all the answers
What implications do the changing consumption patterns have for resource allocation in agriculture?
Signup and view all the answers
What was the total value of agricultural exports during FY2024?
Signup and view all the answers
What initiative was launched to reduce post-harvest losses for farmers?
Signup and view all the answers
How many new primary cooperative societies are targeted for establishment in the next five years?
Signup and view all the answers
What is the purpose of the 'Lakhpati Didis' programme?
Signup and view all the answers
What role do Farmer Producers' Organisations (FPOs) play in enhancing farmers' income?
Signup and view all the answers
By March 31, 2024, how many households were linked through self-help groups (SHGs)?
Signup and view all the answers
What diversification steps are being taken by primary agricultural credit societies (PACS)?
Signup and view all the answers
What are the expected benefits of establishing new multi-state cooperative societies?
Signup and view all the answers
What is the overarching vision behind the new National Cooperation Policy document?
Signup and view all the answers
How many PACS have begun providing Common Service Centre (CSC) services to rural citizens?
Signup and view all the answers
What organizations signed the memorandum of understanding to provide e-services through PACS?
Signup and view all the answers
What is one of the fundamental principles of the cooperative movement emphasized in the text?
Signup and view all the answers
What role does NABARD play in supporting the cooperative sector as mentioned in the document?
Signup and view all the answers
When was the pilot project to promote 'Cooperation amongst Cooperatives' launched?
Signup and view all the answers
What impact is expected from the memorandum of understanding signed between various ministries and NABARD regarding PACS?
Signup and view all the answers
What specific cooperative sector is targeted by the pilot project launched in Banaskantha and Panchmahal?
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.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
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.