PIB Summary- 10th August, 2024 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC PDF Download

Kasturi Cotton Bharat Programme

Context

The Kasturi Cotton Bharat programme of the Ministry of Textiles is a pioneering effort in traceability, certification and branding of Indian cotton.

Kasturi Cotton Bharat Initiative:

• The Kasturi Cotton Bharat program, initiated by the Ministry of Textiles, is focused on improving the traceability, certification, and branding of Indian cotton.
• This initiative is a joint effort between the Government of India, specifically the Cotton Corporation of India, along with various trade organizations and industry stakeholders, to enhance the traceability and certification processes of cotton.
• A specialized microsite featuring QR code verification and a blockchain platform has been established to ensure comprehensive traceability and secure transaction certification.
• The program receives national-level funding and is promoted globally, rather than being restricted to specific states.

Implementation and Impact:

• The initiative has successfully registered approximately 343 modernized ginning and pressing units, with 15 of these units located in Andhra Pradesh.
• Notably, about 100 cotton bales from Andhra Pradesh have achieved certification under the Kasturi Cotton Bharat brand.
• Cotton, a crucial agricultural commodity in India, accounts for 25% of the global cotton production and is often referred to as “White-Gold” due to its significant economic importance. It is ideally suited for growth in hot, sunny environments and diverse soil conditions, although it is prone to damage from waterlogging.

Nandini Sahakar Yojana

Context

Recently, the Minister of Cooperation informed the Rajya Sabha about the Nandini Sahakar Scheme.

Nandini Sahakar Yojana

• The Nandini Sahakar Yojana is designed to support women cooperatives in initiating business model-based activities under the oversight of the National Cooperative Development Corporation (NCDC).
• The program centers on women, offering a structured approach to financial aid, project planning, mentoring, and enhancing capacities.

Financial Framework:

• The scheme does not stipulate a minimum or maximum financial limit for projects undertaken by women’s cooperatives.
• Interest Subvention: Offers a 2% reduction on the interest rate for term loans on new and innovative initiatives and 1% on other activities, thereby reducing the cost of borrowing for women-led cooperatives.

Eligibility Criteria:

• Cooperatives must be operational for at least three months to qualify for assistance, which is provided as credit linkage for infrastructure term loans.
• Eligible cooperatives must be officially registered as women cooperatives with at least 50% of membership comprising women, under any State or Central Act.

Significance and Impact:

• Aims to uplift the socio-economic conditions of women by fostering entrepreneurial skills and financial independence through cooperatives.
• Enhances the capabilities of women’s enterprises by integrating essential components such as business planning, capacity building, credit facilities, and the benefits of other subsidy and interest subvention schemes.