Ministry of Co-operation a game changer for the sector in India

The Ministry of Co-operation is a ministry under the Government of India which was announced on 6th July 2021. The ministry provides a separate administrative, legal and policy framework for strengthening the cooperative movement in the country. It is headed by Union Home Minister Amit Shah and is expected to be a game-changer for the sector in India.

Pune (Maharashtra): The Central Government has created a new Ministry of Co-operation to increase the transparency of transactions in the co-operatives sector and to enable the development of Multi-State Co-operatives (MSCS). The responsibility of this ministry has been handed over to the Union Home Minister Amit Shah. Coming to Co-operation, Maharashtra is still considered the foremost in the country. With, Congress and the NCP dominant in this area, what exactly will change in the state after the formation of this ministry? How will this ministry work? It will be important to see.

According to Vidyadhar Anaskar, an expert in the field of co-operative banking, there are currently twelve types of co-operative societies in Maharashtra. These co-operative societies have about six crore members from Maharashtra. These co-operative societies include 498 civic co-operative banks, 31 district banks, several sugar mills, spinning mills, marketing societies, housing societies and many more. 6% of the population of Maharashtra is associated with this co-operative sector. As Maharashtra is an important state in terms of co-operation, this ministry of the Centre will definitely have an effect on the state.

Read:Ministry of Co-operation will provide separate administrative, legal, policy framework: Nirmala Sitharaman

But it is not yet known how the new co-operation ministry will function. The ministry is likely to issue guidelines for the co-operative movement. At present, the Centre has the power to legislate Multi-State Co-operatives (MSCS) while the state has the power to legislate local co-operatives. But if the issue goes to the concurrent list, both will have the right to legislate. Therefore, there will be confusion until it becomes clear how this ministry will function.

Modi government's new ministry useful for saving co-operative sector: Harshvardhan Patil

Prime Minister Narendra Modi has for the first time in the history of the country created a Ministry of Co-operation in the Union Government and handed over the responsibility to Union Home Minister Amit Shah, senior BJP leader and former co-operation minister Harshvardhan Patil said on Thursday, adding that PM Modi's decision will help save the co-operative sector in Maharashtra and protect the interests of the people who depend on it.

Jayant Patil's sarcastic statement, Amit Shah will save Sahakar from RBI

The Reserve Bank has imposed restrictions on urban banks and is imposing restrictions on district central co-operative banks, with the autonomy of banks being threatened, Amit Shah will save the sector from all this scrutiny, said NCP state president Jayant Patil in a sarcastic manner, adding that he welcomes the appointment of Shah.

Expect transparency as the Ministry of Co-operation gives a new direction to co-operation: MLASadabhau Khot

MLA Sadabhau Khot, the former Minister of State for Agriculture welcomed the Centre's initiative, saying that this decision of the central government would lead to the emergence of many co-operative societies and would create employment for millions of youth. He hoped that the establishment of the Union Ministry of Co-operation would give a new direction to co-operation in the state. At the same time, the possibility of misuse through the ministry cannot be ruled out, he says, adding that the Ministry of Co-operation at the national level has been set up differently by the Central Government.

The new ministry will create harmony: Atul Shah

Speaking on the occasion, Atul Shah, leader of the Federation of Traders, said that the field of co-operation has spread all over Maharashtra. While co-operatives have benefited the common man so far, on the other hand, there has been a lot of corruption in these co-operative societies, so the step taken by the central government to create coherence in the co-operative sector is certainly commendable. Transparency through this Ministry of Co-operation is very important, as only then will the co-operative sector and the common man be truly saved, says Shah.

Read:Centre creates new ministry to boost Cooperative movement