Union Home and Cooperation Minister Amit Shah Wednesday praised the National Cooperative Development Corporation (NCDC) for its role in the upcoming launch of country’s first cooperative-based ride-hailing service “Bharat Taxi”.
Addressing the NCDC’s 92nd General Council Meeting, Shah said that NCDC, established to empower cooperative societies and make financial assistance accessible to them, has increased its total disbursement from Rs 24,700 crore in FY 2020-21 to Rs 95,200 crore in 2024-25.
He said that the NCDC is playing “a key role” in establishing the cooperative-based “Bharat Taxi” ride-hailing service. The new multi-state cooperative society has been registered, and driver enrollment along with technological development is under progress, Shah said.
In last 4 years, NCDC has registered a compound annual growth rate of over 40%, maintained zero net NPA, and achieved its highest-ever net profit of Rs 807 crore, he said. Shah said the circular economy should be encouraged in sugar and dairy sectors to increase profitability.
Based on Rs 2,000 crore government grant approved on 31 July 2025, NCDC is mobilizing Rs 20,000 crore to provide long-term and working-capital loans at concessional rates to dairy, livestock, fisheries, sugar, textile, food processing, agriculture, and women cooperative societies, a Cooperation Ministry statement said.
