Act enacted?

✅Explanation:
The National Cooperative Development Corporation (NCDC) Act was enacted by the Indian Parliament in 1962. This act paved the way for the establishment of the NCDC, which is a statutory corporation under the Ministry of Agriculture and Farmers Welfare.

• Related Terminologies:
-Statutory Corporation: A corporation created by an Act of Parliament or state legislature.
-Cooperative: An autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.
-Ministry of Agriculture and Farmers Welfare: The government ministry responsible for the formulation and implementation of policies and programs related to agriculture and farmers' welfare in India.
-Cooperative Development: The process of promoting and strengthening cooperatives to play a more significant role in the economic and social development of a country.