Prime Minister Narendra Modi on Tuesday has announced new‘Ministry of Cooperation’ to buff up the cooperative movement in the country.
Notably, this announcement has come a day before PM Modi’sCabinet rejig is scheduled to take place on July 7 at 6 pm in New Delhi.
According to sources, the expansion of Cabinet will hailnew 'young' faces at significant positions.
Terming it a historic move, the GoI says the Ministry ofCooperation has been created to strengthen the vision of ‘Sahkar se Samriddhi’(Prosperity from Cooperation) to emphasize community-developmental projects.
This ministry will provide a separate administrative,legal, and policy framework for strengthening the cooperative movement in thecountry. It will help deepen co-operatives as a true people-based movementreaching up to the grassroots.
"Creation of a separate Ministry for Cooperationalso fulfills the budget announcement made by the Finance Minister," statesGoI.
Pertinently, the Ministry will work to organize the processesto bring up ease in doing business for cooperatives along with development ofMulti-State Co-operatives (MSCS).