Amit Shah announces new policy to revive financially ailing Primary Agricultural Credit Societies (PACS).

Amit Shah Unveils New Policy for Revitalization of Primary Agricultural Credit Societies (PACS)

In a strategic move aimed at revitalizing the financial health of Primary Agricultural Credit Societies (PACS), Home Minister Amit Shah announced a comprehensive new policy that promises to facilitate both liquidation and registration processes for these grassroots-level cooperative credit organizations. The announcement, which is poised to bring significant changes to the agricultural credit infrastructure, was reported by the Times of India.

PACS, which form the backbone of rural financial systems, are facing financial distress in various regions. Recognizing the critical need to prevent these societies from becoming financially sick, the central government has been implementing measures to support and strengthen their operations. This new policy initiative is part of the government’s ongoing efforts to enhance the resilience and efficiency of PACS.

According to Amit Shah, steps have already been taken to ensure that PACS do not succumb to financial difficulties. The new policy will streamline the liquidation procedures for non-viable societies while facilitating the registration of viable ones, ensuring a more robust support structure for rural farmers and agricultural activities.

This announcement comes amidst other significant national headlines, such as Dr. Jitendra Singh calling for collaboration between India and Sweden at multiple levels. Meanwhile, adverse weather conditions have triggered mudslides, leading to the closure of the Jammu-Srinagar national highway.

The new PACS policy, therefore, represents a key component of the government’s rural development agenda, reflecting its commitment to sustainable agricultural growth and financial stability at the grassroots level. As the government moves forward with this initiative, stakeholders are hopeful that it will significantly improve the financial vitality of PACS and, by extension, contribute to the well-being of rural economies across the country.