Port Blair, May 11: The Cooperative Department, under its plan allocation shall provide, Govt. Share Capital and Managerial Subsidy to 20 eligible cooperative societies each during 2011-12. 

 

Accordingly, the Govt. Share Capital will be given for participation in all types of cooperative societies. The quantum of assistance under the head will depend on requirement of each case subject to a maximum of Rs.3 lacs for primary and Rs.10 lacs for apex/central coop societies at a time or phased manner over the plan period. 

 

The Govt. share capital assistance will be on matching basis subject to the maximum limit of Rs. 3 lacs for primary cooperative societies and Rs.10 lacs for central and apex level cooperative societies. Managerial subsidy, in 1st year will be 100% in 2nd year 75% and in 3rd year 50% will be provided for the first three years subject to maximum of Rs. 1 lacs for the first year Rs.0.75 lacs for the second year and Rs.0.50 lacs for third year respectively to all types of primary cooperative societies including Tribal and Women Cooperative Societies. 

 

Eligible cooperative societies have been advised to contact the Assistant Registrar of cooperative societies of concerned zone for availing Govt. Share Capital & Managerial Subsidy during this year, at the earliest.