Gujarat govt declares a new package for industrial cooperative societies

Gandhinagar, 22 January 2014

Gujarat Chief Minister Narendra Modi sanctioned a revised package of financial assistance given to the industrial cooperative societies working in the fields of handicrafts, handlooms and leather industries etc. in Gujarat.

Gujarat chief Minister having decided to augment this package and help avail more employment opportunities to the beneficiary workers has brought out amendments after a long span of 20 years for the first time in such packages. This will further economically empower various 4207 industrial cooperative societies in Gujarat.

According to a new package, industrial cooperative societies including schedule caste’s 115, schedule tribe’s 472 and others 1784 will avail benefits and a total Rs.149 lakhs have been granted for the same.

The revised packages sanctioned for industrial cooperative societies in the state are as under:

With an aim to increasing production capacity and to strengthen financial structure of the Industrial cooperative societies by accumulating shares, these societies are sanctioned maximum of Rs. 900 depending on their members’ 90 per cent owned shares’ part.

According to this package, grants have been approved with an increase from Rs. 10,000 to 75,000 in a range of financial assistance such as manager salary in administrative services, sales depot and street vendor services, technical services etc.

The assistance in the loans that are given to the industrial cooperative societies for their primary needs including purchasing tools, constructing gaudowns, sales depot and buying vehicles etc. have been sanctioned to increase from Rs. 1 lakh to 10 lakhs.

With an aim to revive the insolvent co-operative societies, their revised help package was raised to Rs 25,000 from earlier sanctioned at Rs 10,000.

The Gujarat Government’s financial assistance given to the members of co-operative societies – to provide market to sell their produces, arranging training tours of the artisans for enabling them to take the market competition head-on in today’s competitive world, and production of the quality goods with modern facilities – has been rose from Rs 500 to Rs 15,000.

With an aim to improve the quality of handloom products through utilizations of modern techniques and technologies, the Gujarat Government has given price hike to the handlooms and its equipments being offered to the members of the handloom co-operative societies.