Amit Shah, Union Cooperation Minister, said on Saturday that the Centre would soon release a new cooperative policy. It will collaborate with states to develop the cooperative movement.
In addition, added that the number of primary agricultural cooperatives (PACs) will be expanded to 3 lakh. This over the next five years. There are now around 65,000 PACs.
He was addressing at the inaugural Sehkarita Sammelan, or National Cooperative Conference held in this city. In July of this year, the Ministry of Cooperation established.
Addressing the meeting of over 2,100 leaders from various cooperatives and almost 6 crore online participants, Shah stated that some people are puzzled as to why the Centre formed this new ministry because cooperatives are a state matter.
Shah stated that there may be a legal answer, but he does not want to “go into this fight.”
He emphasised that the Centre will work with states and that “there will be no friction.”
“We will cooperate with all states to carry the cooperative movement ahead,” he said. Further adding that the Ministry of Cooperation established to improve and modernise the sector.
New Cooperative Policy
Regarding the planned new cooperative policy, Shah stated that a policy was introduced in 2002 by then-Prime Minister Atal Bihari Vajpayee and that the Modi government will now begin work on a new strategy.
Shah emphasised that the cooperative movement is more essential today than ever before and that cooperatives can contribute significantly to the country’s prosperity.
New Cooperation Policy, he believes, would be crucial in converting India into a USD 5 trillion economy.
In response to concerns about cooperative taxes and other issues discussed. Shah indicated that he was aware of their concerns and pledged that they would not be treated unjustly.