On Tuesday, the Modi government created a new ministry, the Ministry of Co-operation, to expand the country’s cooperative movement. The announcement comes amid a strong buzz about a massive Cabinet reshuffle soon.
According to PTI, the PM Narendra Modi-led Central Government has established a new ministry to realise the objective of “Sahkar se Samriddhi.”
A cooperative-based economic growth model, in which each member works with a sense of responsibility, is highly relevant in our country.
What will this ministry do?
The Ministry will endeavour to expedite processes for co-operatives’ ‘ease of doing business’ and facilitate the growth of Multi-State Co-operatives (MSCS),’ according to the announcement.
This ministry will provide a separate administrative, legal, and policy structure to support the country’s cooperative movement.
It will contribute to the development of cooperatives as a truly people-centered movement that reaches all levels of society.
The Central Government has demonstrated its strong commitment to community-based development partnerships with this step. The creation of a new Ministry of Cooperation also fulfils the Finance Ministry’s budget announcement.
(With PTI inputs)