Now Reading: Lok Sabha passes NCDC Amendment Bill amid opposition din
-
01
Lok Sabha passes NCDC Amendment Bill amid opposition din
The Lok Sabha passed the National Co-operative Development Corporation (Amendment) Bill, 2026 on Tuesday without debate, as opposition parties protested demanding Home Minister Amit Shah's presence over a July 20 police action…
The Story in Brief
The Lok Sabha passed the National Co-operative Development Corporation (Amendment) Bill, 2026 on Tuesday without debate, as opposition parties protested demanding Home Minister Amit Shah's presence over a July 20 police action against students. Minister of State for Cooperation Murlidhar Mohol moved the bill to let NCDC lend directly to any entity engaged in cooperative development, not just cooperative societies. NCDC can now also invest in share capital of cooperatives or related entities after government approval.
The bill expands the definition of 'foodstuffs' to include any item notified by the Centre and removes geographical restrictions on industrial goods. The Hindu Businessline reports the amendment aims to widen institutional channels for cooperative sector support, allowing NCDC to finance statutory bodies, state agencies and other specialized entities that are not registered as cooperatives but serve cooperative development.
The Indian Opinion
The opposition's protest over the July 20 student crackdown partly drowned out a bill that quietly expands the NCDC's lending powers beyond cooperative societies to any entity working for cooperative development. Critics might call this a dilution of the cooperative ethos; supporters say it is pragmatic modernization. The real test will be whether new recipients like state agencies or tech firms actually deliver cheaper credit to farmers, or if middlemen capture the benefit. Who will the first direct grant go to?
Source: thehindubusinessline.com
This story was synthesised by AI from the source linked above.
