The Narendra Modi government on July 6 created a separate ‘Ministry of Co-operation’, with an aim to realise the vision of ‘Sahkar se Samriddhi’.
The ministry will provide a separate administrative, legal and policy framework for strengthening the cooperative movement in the country. It will also help in deepening co-operatives as a true people-based movement reaching up to the grassroots, the Cabinet Secretariat said in an official statement.
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"In our country, a co-operative based economic development model is very relevant where each member works with a spirit of responsibility," the Cabinet Secretariat said.
The new union ministry will work to streamline processes for ‘Ease of doing business’ for co-operatives and enable development of Multi-State Co-operatives (MSCS).
Earlier, Finance Minister Nirmala Sitharaman in her budget 2021-22 announcement, had mentioned a new ministry for the cooperative sector. This is also seen as a new step by the government regarding its deep commitment to community-based developmental partnerships.
The government has created the new ministry ahead of a Cabinet expansion which is expected to take place on July 7. This will be the first cabinet reshuffle in the second term of the Narendra Modi government.
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