Nirmala Sitharaman: Ministry of Co-operation will provide separate administrative, legal, policy framework

Union Finance Minister Nirmala Sitharaman on Wednesday said that the Ministry of Co-operation will provide a separate administrative, legal, and policy framework for strengthening the cooperative movement.

"The Modi government has created a separate 'Ministry of Co-operation'. This new ministry will provide a separate administrative, legal, and policy framework for strengthening the cooperative movement in India in order to realize the vision of #SahkarSeSamriddhi," tweeted Nirmala Sitharaman.

The Narendra Modi government has created a separate 'Ministry of Co-operation' to realise the vision of 'Sahkar se Samriddhi'. The move aims to strengthen the co-operative movement in the country and deepen cooperatives as a true people-based movement reaching the grassroots.

This ministry will provide a separate administrative, legal and policy framework for strengthening the cooperative movement. The cooperative-based economic development model is very relevant to the country where each member works with a spirit of responsibility.

The ministry will work to streamline processes for 'ease of doing business' for cooperatives and enable the development of Multi-State Co-operatives (MSCS).

The Central Government has signalled its deep commitment to community-based developmental partnership.

The creation of a separate Ministry for Cooperation also fulfils the budget announcement made by the Union Finance Minister, the sources said. The decision is also being seen as a step to empower farmers.