- A separate ‘Ministry of Co-operation’ has been created by the BJP led Modi Government for it’s ‘Sahkar se Samriddhi’ Vision.
- A separate administrative, legal and policy framework will be provided by this Min. Of Cooperation.
- It will help in smoothening of the processes for ‘Ease of doing Business’ for co-operatives and help in the development of Multi-State Co-operatives like Credit, Agriculture, Transport, Housing, Hospital, Sugar, Fishery, Handloom, Labour etc.
- Headed by Amit Shah, the ministry aims to strengthen the cooperative movement in India.
- It will help strengthen the Co-operatives as a true people based initiative in reaching upto the grassroot level.
- It also encourages the spirit of Responsibility. Read news here
Watch the video on Ministry of Cooperation.
Article 19 states that the Right to form cooperative societies is a fundamental right.
Article 43-B provides for the promotion of cooperative societies (DPSP) and states that the State shall endeavor to promote voluntary formation, autonomous functioning, democratic control, and professional management of cooperative societies.
Art. 243 ZH-243 ZT – Part IX B finds mention of the cooperative societies in the constitution of India. The Constitution (97th Amendment) Act, 2011 added a new Part IXB right after Part IXA (Municipals) regarding the cooperatives working in India.
The Cooperative Societies as the name suggests is a group/association of members who seek economic, social and cultural needs to be satisfied. Formed for the mutual benefit of it’s members, such cooperative societies give bargaining power while conducting any transaction. There have also been various success stories witnessed by the people of India, like the green and white revolution.
Importance of Cooperatives:
- They help in pooling resources and distributing to the most needy first.
- They have a provision of debt financing.
- They help the members with loans for agricultural inputs and land development.
- Buying of higher milk yielding cow is encouraged by milk cooperative socities.
- The poor section of the socities can get access to resources, loans who are not properly targeted by the government and their welfare schemes.
- It reduces red tapism and also avoids class conflict.
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