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DAILY NEWS ANALYSIS

  • 07 July, 2021

  • 12 Min Read

Cabinet creates a new and separate “Ministry of Cooperation”

Cabinet creates a new and separate “Ministry of Cooperation”

  • In a historic move, a separate ‘Ministry of Co-operation’ has been created by the Modi Government for realizing the vision of ‘Sahkar se Samriddhi’.
  • This ministry will provide a separate administrative, legal and policy framework for strengthening the cooperative movement in the country.
  • It will help deepen Co-operatives as a true people based movement reaching upto the grassroots.
  • In our country, a Co-operative based economic development model is very relevant where each member works with a spirit of responsibility.
  • The Ministry will work to streamline processes for ‘Ease of doing business’ for co-operatives and enable development of Multi-State Co-operatives (MSCS).
  • The Central Government has signaled its deep commitment to community based developmental partnership. Creation of a separate Ministry for Co-operation also fulfils the budget announcement made by the Finance Minister.

Cooperatives – Inserted in Part 9-B by 97th Constitutional Amendment, 2011

  • It gave Constitutional status and protection to Cooperative societies.
  • It made 3 changes in the Constitution

1. Art 19: It made Right to form cooperative societies a FR.

2. It included a new DPSP on promotion of cooperative societies (Art 43 B)

3. It added a new Part 9 B (Art 243 ZH to Art 243 ZT)

  • State Legislatures (SL) may make a law on incorporation, regulation, winding up of cooperatives based on principles of voluntary formation, democratic member control, member-economic participation and autonomous functioning.
  • Tenure = 5 years (re-election within 6 months) and

Composition

  • SL may provide for the directors but the max no. of directors should be less than 21. 1 seat for SC or ST and 2 seats for women.
  • SL shall make provisions for co-option of persons having experience in banking, management, finance, etc. but it should be ≤ 2 in addition to 21. Plus, they won’t have the Right to vote in any election of cooperatives society or be eligible to be elected as office bearers of the Board.
  • Functional directors of cooperative society shall also be member of the board. They won’t be counted in 21.
  • Election of Members of Board: Shall be vested in a body as provided by SL.
  • SL may make provisions for maintenance of accounts and auditing of such accounts. Shall be audited within 6 months of close of FY.
  • This part shall apply to UTs. But Prez may direct that provisions may or may not apply to UTs.
  • These provisions shall also apply to multi state cooperatives.

Source: PIB


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