A new ‘Ministry of Co-operation’ created to strengthen the co-operative movement in the country

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A separate ‘Ministry of Cooperation’ was created by Modi government on July 6 with an aim to realize the vision of ‘Sahkar se Samriddhi’.

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The ministry will impart an independent administrative, legal and policy framework for building up the cooperative movement in the country. It will also help in boosting co-operatives as a true people-based movement by reaching up to the grassroots.

In India a co-operative based economic development model is very pertinent where each member works with a spirit of commitment.

The new union ministry will work to simplify processes for ‘Ease of doing business’ for co-operatives and allow development of Multi-State Co-operatives Societies (MSCS).

Multi State Cooperative Societies ACT, 2002

An Act to consolidate and amend the law relating to co-operative societies, with objects not confined to one State and serving the interests of members in more than one State, to facilitate the voluntary formation and democratic functioning of co-operatives as people's institutions based on self-help and mutual aid and to enable them to promote their economic and social betterment and to provide functional autonomy ,was being felt necessary by the various cooperative societies, and federation of various cooperative societies as well as by the Government.

In order to achieve the objective The Multi State Cooperative Societies Bill was introduced in the Parliament. The bill having been passed by both the Houses of Parliament received the assent of the President on 3rd July 2002 and it came on the Statute Book as The Multi State Cooperative Societies ACT 2002 (39 of 2002).