On 5th July 2021, the Narendra Modi-led Union government announced a new ‘Ministry of Cooperation’. This ministry will aim to implement the vision of ‘Sahkar se Samridhi’ or prosperity through cooperation. The move comes right ahead of the much-awaited cabinet expansion.
 |
| Image from official site PIB |
In the Union Budget-2021, the Finance Minister had said to further streamline Ease of Doing Business of Cooperative, a separate administrative structure for them to be set up in India. So to live up to this point, the government has announced this new ministry. Till now the Cooperative Ministry comes under the agriculture, cooperation and farmers welfare department. If seen, there were three different things inside a department and now a new ministry will be formed by removing it.
- The new ministry of Cooperation will provide a separate administrative, legal and policy framework for strengthening the cooperative movement of India.
- The ministry will work to streamline processes for Ease of doing business for cooperative. It will also enable the development of Multi-State Cooperatives (MSCs).
Cooperatives in India
- It is an autonomous association of person and voluntarily united.
- It is brought for common economic, social and cultural needs.
- It is a jointly owned and democratically controlled institution.
The draft which came in the constitution─
- To promote voluntary formation, autonomous functioning, democratic control and professional management of cooperative societies.
- The cooperative sector, over the years, has made a significant contribution to various sectors of the national economy and has achieved voluminous growth.
- However, it has shown weakness in safeguarding the interest of the members and fulfilment of the objective.
- Therefore, there was a need to initiate fundamental reforms to revitalise these institutions to ensure their contribution to the economic development of the country and to serve the interest of members and the public at large.