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Central government has created a new ministry under the name of ‘Ministry of Co-operation’. Explain the idea behind this move and comment on the same.
Introduction:
A new ministry for co-operative sector has been created and named as ‘Ministry of Co-operation’. The vision is ‘Sahakar se samriddhi’ which translates to prosperity through co-operation. It will provide a framework for strengthening the co-operative movement as a whole.
Body:
The key objectives:
- Ease- of doing business
- Formation of multi-state co-operatives
- Streamlining the related processes
A co-operative society is formed on the basis of common needs. The economic interest of the participants are almost similar. The different types of co-operative society are:
- Consumer Co-operative society
- Credit co-operative society
- Marketing co-operative society
The significance:
- Improves the stability of different classes
- Provides loans for agriculture and other activities
- Building infrastructure
- Social justice
- Economic justice
Idea behind creation of separate ministry:
Constitutionally co-operative societies had been identified through 97th amendment. Now by creating a separate ministry, co-ordination can be enhanced. As the prime minister addressed, this is a historic move and emphasis will be given on streamlining the processes related to this sector. Lot of people are dependent on these co-operative societies in day-to-day life. Some of these co-operative societies have ties with self-help groups. Thus, creation of a separate ministry for it will help in better processing.
Conclusion:
Although this looks like a new move, there were efforts in this direction in previous days also. Part IX-B deals with co-operatives. State cabinets have separate ministry for co-operative sector. Now, Union will also have a call in making related decisions.
