Govt forms new 'Ministry of Cooperation' – All You Need to Know

The Union Government created a new Ministry of Cooperation with an aim to implement the vision of ‘Sahkar se Samriddhi’ or prosperity through cooperation. Read all you need to know.

Created On: Jul 7, 2021 10:47 IST
PM Narendra Modi, Source: PTI
PM Narendra Modi, Source: PTI

The Union Government on July 6, 2021, created a new Ministry of Cooperation with an aim to implement the vision of ‘Sahkar se Samriddhi’ or prosperity through cooperation. The new ministry comes in amid a massive cabinet reshuffle exercise scheduled to happen on July 7, 2021.

The name of the minister in charge of the new ministry will be announced on July 7, 2021.

Union Home Ministry Amit Shah expressed that the new Ministry would bring prosperity to the rural and agricultural sectors. He further said the new Ministry will help the cooperative sector soar to new heights.

Ministry of Cooperation: Key points

•The new Ministry of Cooperation is the government’s move to strengthen cooperative movement in the country. The Ministry will help manifest the vision of ‘Sahkar se Samriddhi’ or prosperity through cooperation.

•With the new Ministry, the Central Government shows its deep commitment to community-based developmental partnership. As per the government, a cooperative-based economic development model is crucial to India’s growth where each member is working with a sense of responsibility.

•The new Ministry also fulfills the commitment announced by Finance Minister Nirmala Sitharaman while presenting Budget 2021-22 on February 1, 2021, where she spoke about the government’s commitment towards the development of multi-state cooperatives and proposed to set up a separate administrative structure for cooperatives.

What will new Ministry of Cooperation offer?

•The new Ministry will offer a separate administrative, policy, and legal framework to strengthen the cooperative movement in the country.

•The Ministry will aid in streamlining all processes for ‘Ease of doing business’ for cooperatives and boost the development of Multi-State Cooperatives (MSCS).

 

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