The National Co-operative Development Corporation (Amendment) Bill, 2012 was introduced in the Lok Sabha on Thursday. It aimed at empowering the National Cooperative Development Corporation to extend loans to companies run by farmers.

The bill, introduced by Minister of State for Agriculture Harish Rawat, also provides entities run by farmers to sell or market their agricultural and related products.

Producer companies can play a major role in improving the livelihood of primary producers and boosting growth of rural economy.

 at present, the corporation can extend loans and grant subsidies to state governments to fund co-operative societies.

The proposed amendment will enable the corporation to plan, promote and finance programmes for the benefit of the producers through co-operative societies including producer companies.