NEW DELHI: The cooperative sector in India has seen 20 new initiatives in the past 20 months since its inception Cooperation Ministry in July 2021.
Enlist the initiatives of central government, minister of home and cooperation Amit Shah in his written response to Congress Inquiries on Tuesday said they would “strengthen India’s collaborative architecture, synchronizing it with the country’s social and economic needs”.
Initiatives include the creation of new multi-state cooperative associations (MSCS) for primary farm-related activities; computerization main agricultural credit union (PACS) at a cost of Rs 2,516 crore; expand the scope of PACS to carry out up to 25 non-agricultural services or businesses such as water distribution and petroleum/LPG/Green Energy distribution; establish a national database on cooperatives; create a national cooperation policy; and implement tax reduction measures to support the industry.
Currently, there are about 8.5 thousand cooperatives in the country with about 29 million members, mainly from rural India. As for new multinational cooperative societies, the country has seen 92 associations established in the past three years, and 68 of them established by 2022 alone. Almost a third. (30) total formed in Maharashtra, followed by 19 in Uttar Pradesh and 10 in Kerala.
In response to a question about formulating specific policies to promote cooperation, Shah informed the Lok Sabha that his ministry was working on developing a new National Cooperation Policy to help realize the ‘sahakar se’ vision. samriddhi’ (prosperity through cooperation), promoting the cooperative economic development model, strengthening the co-operative movement in the country and going deep into the grassroots.
He said a national committee was chaired by Suresh Prabhu (former Union Minister) and consisted of experts of the cooperative sector, representatives of national/state/cooperative organizations/ district/junior level, have been working since last September to develop the draft. of the new policy based on suggestions and feedback from various stakeholders.
Lower tax rates for new cooperatives, as announced in the Union Budget 2023-2024; reducing surcharges on cooperative associations and allowing cooperatives to register as ‘buyers’ on the national public procurement GeM portal are some of the other initiatives on the list of 20 .
Enlist the initiatives of central government, minister of home and cooperation Amit Shah in his written response to Congress Inquiries on Tuesday said they would “strengthen India’s collaborative architecture, synchronizing it with the country’s social and economic needs”.
Initiatives include the creation of new multi-state cooperative associations (MSCS) for primary farm-related activities; computerization main agricultural credit union (PACS) at a cost of Rs 2,516 crore; expand the scope of PACS to carry out up to 25 non-agricultural services or businesses such as water distribution and petroleum/LPG/Green Energy distribution; establish a national database on cooperatives; create a national cooperation policy; and implement tax reduction measures to support the industry.
Currently, there are about 8.5 thousand cooperatives in the country with about 29 million members, mainly from rural India. As for new multinational cooperative societies, the country has seen 92 associations established in the past three years, and 68 of them established by 2022 alone. Almost a third. (30) total formed in Maharashtra, followed by 19 in Uttar Pradesh and 10 in Kerala.
In response to a question about formulating specific policies to promote cooperation, Shah informed the Lok Sabha that his ministry was working on developing a new National Cooperation Policy to help realize the ‘sahakar se’ vision. samriddhi’ (prosperity through cooperation), promoting the cooperative economic development model, strengthening the co-operative movement in the country and going deep into the grassroots.
He said a national committee was chaired by Suresh Prabhu (former Union Minister) and consisted of experts of the cooperative sector, representatives of national/state/cooperative organizations/ district/junior level, have been working since last September to develop the draft. of the new policy based on suggestions and feedback from various stakeholders.
Lower tax rates for new cooperatives, as announced in the Union Budget 2023-2024; reducing surcharges on cooperative associations and allowing cooperatives to register as ‘buyers’ on the national public procurement GeM portal are some of the other initiatives on the list of 20 .
