India Morning News
Mumbai: Chief Minister Devendra Fadnavis announced the formation of a special committee to amend the Cooperative Law, ensuring justice for all stakeholders in the cooperative sector. Speaking at a symposium on ‘Empowering Cooperatives and State Government Policy’ at Yashwantrao Chavan Pratishthan Auditorium, he emphasized the need for timely reforms to strengthen the sector.
The event, organized to commemorate 150 years of the cooperative movement sparked by the ‘Deccan Uprising and the Genesis of Cooperatives’ in 1875, was attended by Deputy Chief Ministers Eknath Shinde and Ajit Pawar, Union Minister Nitin Gadkari, MP Sharad Pawar, bank administrator Vidyadhar Anaskar, and Dilip Dighe.
Modernization of Cooperative Banks
CM Fadnavis lauded cooperative banks for embracing core banking and modern technology, revolutionizing customer service. “Even during fiscal consolidation, these banks have delivered remarkable performance,” he said. He highlighted the historic 1875 uprising in Supe, Pune, against moneylenders as the foundation of the cooperative movement.
Central Ministry Boosts Rural Economy
Fadnavis noted that Prime Minister Narendra Modi’s establishment of a dedicated Cooperation Ministry has empowered cooperative institutions nationwide, bolstering the rural economy. With World Bank support, 10,000 villages are being trained to develop an ‘Agri-Business’ model.
Support for Sugar Factories, Textile Mills
Cooperative sugar factories have diversified into by-product manufacturing, supported by the central government’s ethanol policy, enabling them to compete globally. Additionally, cooperative textile mills will transition to solar energy to address power challenges, Fadnavis announced.
Strengthening Housing Cooperatives
With 50% of Maharashtra’s cooperative institutions in the housing sector, amendments to the Cooperative Law have introduced a dedicated chapter for housing societies. A new scheme offering 17 concessions for self-redevelopment has been launched, with a committee formed under MLA Pravin Darekar to oversee its implementation.
Comments are closed