Latest news with #NationalCooperationPolicy–2025
United News of India
6 days ago
- Business
- United News of India
Shah unveils National Cooperation Policy 2025, aims to triple sector's GDP contribution by 2034
New Delhi, July 24 (UNI) Union Home Minister and Minister of Cooperation, Amit Shah, today unveiled the National Cooperation Policy – 2025 here and said that a target has been set to triple the cooperative sector's contribution to the country's GDP by 2034. Addressing the ceremony, Shah acknowledged that this is a significant goal, but added that comprehensive preparations have been made to achieve it, an official statement said. "A major objective is to bring 50 crore citizens, who are either not members or are inactive in the cooperative sector, into active participation. Additionally, there is a target to increase the number of cooperative societies by 30 per cent. Currently, there are 8.3 lakh societies, and this number will be increased by 30 per cent," he said. Shah said that the Ministry of Cooperation has prepared a detailed plan for sectors like tourism, taxi services, insurance, and green energy. And specifically mentioned that a remarkable start will be made in the taxi and insurance sectors in a very short time. He explained that the participation of cooperative units in these emerging sectors means that successful cooperatives will come together to form new cooperative entities, which will begin operations in these new areas. The profits generated through these units will ultimately reach the members of Primary Agricultural Credit Societies (PACS) at the rural level. He emphasised that the goal is to build a large and robust cooperative ecosystem. At the same time, the aim is to firmly establish the belief that cooperation can be a vital instrument for the country's development for future generations. He said that there will be at least one primary cooperative unit in every panchayat, which could be a PACS, Primary Dairy Cooperative, Primary Fisheries Cooperative, Primary Multipurpose PACS, or any other primary unit. These units will also help create more employment opportunities for youth. The Minister emphasised that in order to enhance transparency, financial stability, and institutional trust, each unit must be empowered. For this, a cluster and monitoring system will also be developed. Shah said that the Model Cooperative Village initiative was first launched in Gandhinagar, and it is an initiative of NABARD. Efforts will be made to establish five model cooperative villages in every tehsil through state cooperative banks. The participation of women will be linked to this initiative through White Revolution 2.0. He informed that a roadmap has been prepared to implement all these schemes on the ground through two dedicated committees. The Ministry of Cooperation is fully prepared to implement this policy in its entirety at the grassroots level. He noted that the policy includes key elements aimed at bringing significant transformation in the socio-economic structure of villages and ensuring that technology reaches even the smallest cooperative units over the next two decades. The computerization of processes will completely change operational methods, leading to increased transparency and efficiency. To foster competition, financial stability, transparency, and resilience to challenges in the cooperative sector, these changes will be implemented at the grassroots through a monitoring mechanism. Additionally, a system has been put in place to make necessary legal amendments every 10 years to keep the policy relevant and effective. Shah said that through this cooperation policy, the goal is to make the rural and agricultural ecosystem, along with the poor of the country, a reliable and integral part of India's economy to achieve the vision of Aatmanirbhar Bharat. He mentioned that a roadmap for balanced cooperative development has been prepared for every state. This cooperation policy is visionary, practical, and outcome-oriented. Based on this policy, India's cooperative movement will advance steadily towards 2047, the centenary year of India's independence. He added that the goal of 'Sahkar Se Samriddhi' includes not only growth in the Gross Domestic Product (GDP), but also aims at creating employment and enhancing individual self-respect. A member-centric model has been established as the foundation of this policy. He stressed that the welfare of the member should be the core objective of cooperation, and this principle has guided the formulation of the policy. The policy also focuses on creating opportunities to enhance the participation of women, youth, tribals, and Dalits in the country's economic development. Shah said that efforts will be made to ensure that well-performing scheduled cooperative banks are treated at par with commercial banks, and that they do not face any kind of second-class treatment anywhere. He said that the Modi government aims to build a cooperative sector in the country where young people, after receiving the best possible education, choose cooperatives as a career. The new Cooperation Policy has the potential to resolve all the issues of the cooperative sector, ensure its development over the next 25 years, and position it at par with all other sectors contributing to the nation's economy. Shah said that the government is fully prepared to support cooperative institutions in every sector, 24 hours a day. However, he emphasized that the units must strengthen themselves from within. To this end, 83 intervention points have been identified. Out of these, work has been completed on 58 points, and three points have been fully implemented. There are two points that require continuous and ongoing implementation. The remaining points will now be taken up. On this occasion, Union Minister of State for Cooperation Krishan Pal Gurjar, Murlidhar Mohol, Cooperation Secretary Ashish Kumar Bhutani, former Union Minister and chairman of drafting committee of new Cooperation Policy, Suresh Prabhu and others were present. UNI RBE RN
The Print
6 days ago
- Business
- The Print
Shah unveils new national policy to further strengthen cooperative movement
Unveiling the 'National Cooperation Policy – 2025', Shah — who is helming the home as well as cooperation ministries — asserted that cooperatives are at par with the corporate sector in all aspects, including taxation. The latest announcement comes 23 years after a similar policy for cooperatives was brought way back in 2002 when Prime Minister Atal Bihari Vajpayee-led National Democratic Alliance was in power. New Delhi, Jul 24 (PTI) Union Minister Amit Shah on Thursday announced a new national policy to boost the cooperatives sector, with the vision to have more professionally-managed and financially-independent cooperative organisations in every village. He urged states to start implementing the new policy at the earliest and emphasised that the cooperative sector has the potential to bring development for India, which aims to be a developed nation by 2047. The mission is to make cooperative organisations professional, transparent, equipped with technology, and financially independent as well as successful, he added. 'The target is to have at least one cooperative organisation in every village of the country,' said Shah. Besides, the aim is to bring in at least 50 crore people under the ambit of cooperatives. 'The policy is far-sighted, practical and result-oriented,' the minister said. He further said the Modi government has set a target to make India the world's third-largest economy by 2027. 'I have full confidence that we will definitely achieve this goal.' Shah said over the past 4 years, Ministry of Cooperation has achieved many accomplishments, but its greatest achievement is that today, the member of even the smallest cooperative unit in the country stands with pride. The minister exuded confidence that the latest policy will be instrumental in helping India become a developed nation by 2047. He also urged state governments to start implementing the new policy. Shah recalled that it was a BJP-led government at the Centre which had brought the first national policy for the cooperative sectors in 2002, and next policy too has been introduced by the government led by Prime Minister Narendra Modi. The policy has been prepared by a 48-member national-level committee headed by former Union Minister Suresh Prabhakar Prabhu. The panel received about 750 suggestions from stakeholders, and also held extensive discussions with the RBI and NABARD. The new cooperative policy will prove to be a milestone in the cooperative movement of India for the next two decades from 2025-45, the ministry had earlier said. It has been framed to make cooperative institutions 'more active and useful in the current economic scenario' and enhance the sector's role in achieving the goal of becoming a developed nation by 2047. The policy would also strive to make cooperative institutions job creating centres. PTI LUX MJH NKD NKD ANU ANU This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
