Correspondent
25 July 2023: In a significant development, the Indian government is all set to unveil a new co-operative policy, aiming to boost the co-operative sector's growth and enhance its role in the nation's socio-economic development. The policy announcement was made by Union Home and Cooperation Minister, Mr. Amit Shah, during his address at the Lok Sabha.
The co-operative sector has long been an integral part of India's rural and urban economies, empowering farmers, artisans, and small-scale entrepreneurs. Recognizing its importance, the government has been actively working on a comprehensive policy to strengthen the co-operative movement further. This new policy is expected to address various challenges faced by co-operatives and provide a framework for their efficient functioning.
According to Mr. Amit Shah, the government is committed to making this policy a reality before the auspicious occasions of Vijayadashmi or Diwali this year. This ambitious timeline demonstrates the government's dedication to expedite reforms that can positively impact millions of lives.
Key Features of the Upcoming Co-operative Policy:
1. Access to Finance: The policy will focus on improving access to financial resources for co-operatives, enabling them to expand their operations, invest in modern technologies, and create more employment opportunities.
2. Technical Assistance and Training: Recognizing the importance of knowledge and skills in today's competitive world, the government plans to provide technical assistance and training to co-operative members. This support will equip them with the necessary expertise to manage their businesses effectively.
3. Infrastructural Development: The policy aims to address the infrastructural gaps faced by many co-operatives. By improving essential infrastructure like storage facilities, transportation, and marketing networks, the sector's overall efficiency and profitability will be enhanced.
4. Promoting Innovation: Embracing innovation is vital for the sustained growth of any sector. The upcoming policy will encourage co-operatives to adopt modern technologies and innovative practices to stay relevant in the dynamic market.
5. Strengthening Governance: Ensuring transparent and efficient governance within co-operatives is a key focus of the policy. By implementing good governance practices, the government aims to enhance accountability and foster trust among members and stakeholders.
6. Market Linkages: The new policy will strive to establish better market linkages for co-operatives, allowing them to access larger markets, both domestic and international. This will open up new avenues for growth and increase their contribution to the nation's economy.
The introduction of the co-operative policy by Vijayadashmi or Diwali this year reflects the government's commitment to promoting inclusive growth and empowering various sectors of society. With a renewed focus on financial support, technical assistance, infrastructural development, innovation, and governance, this policy is expected to revitalize the co-operative movement in India.
As the policy's details unfold, it will be essential for stakeholders, co-operative members, and experts to collaborate and provide valuable inputs to make it even more effective and beneficial for all. The successful implementation of this policy holds the potential to uplift countless lives and lead India towards a brighter and more prosperous future.