INVC NEWS
New Delhi,
The Vice President of India, Shri M. Hamid Ansari has said that the cooperatives have to effectively address commodity value chain framework in order to have a place in a globalised world. He was addressing at the foundation day celebrations of Nagpur Nagarik Sahakari Bank, in Nagpur today. The Union Minister for Road Transport & Highways and Shipping, Shri Nitin Gadkari, the Union Minister of State for Home, Shri Hansraj Ahir, the Energy Minister & Nagpur Guardian Minister, Government of Maharashtra, Shri Chandrashekhar Bawankule, the Mayor of Nagpur, Shri Pravin Datke and others were present on the occasion.
The Vice President said that our founding fathers saw the cooperative movement as an important tool in carrying forward the policy of rapid and equitable economic development. The cooperative movement in India today is the largest in the world, and the sector played a pivotal role in the economy, especially in our primary sector production, he added.
The Vice President said that the cooperative credit societies have clearly not been effective in providing adequate and affordable credit flows to our small-scale farming sector. Identifying some of the reasons for weakness and the correctives, the Vice President said that there has been an over-bearing role and intervention from the Government, the politicization of cooperative leadership, the size of Primary Agricultural Credit Societies has been small, there was lack of professional management of societies and land reform and caste also had an impact.
The Vice President said that given the role that agriculture enjoys in India’s economy, cooperatives remain an important plank in our approach to equitable development and as an important conduit for delivery of goods and services in areas not serviced by Government or private channels. Some of the areas where cooperatives continue to have relevance include – cooperative farming societies, improved access to financial services and Agricultural Insurance business, he added.
