. Cooperatives, as an organic idea and an organisational platform, are relevant, if re-imagined and implemented skilfully. Carving out a ministry for cooperation must be understood in the context of the cooperative sector’s immense transformative powerthat has not been optimally realised so far.
The objective of the new ministry isto strive towards creating a legal, administrative and policy framework, facilitating the “ease of doing business” for cooperatives and helping the emergence of “multi state cooperative societies”.
The emphasis is on transforming cooperatives from small entitiesto big enterprises, facilitated and sustained by enabling businesses to address the problem of entry and growth barriers. However, the ministry of cooperation will have to take various measures to bring the most benefits of the cooperative societies.
Significance of Cooperatives
Protect Vulnerable From Market Distortion: Cooperation is essential because the market cannot take care of the needs of the vulnerable. Wherever cooperatives have succeeded, they have addressed the issue of market distortions.
Prevent Distress Sales: Cooperative societies, equipped with basic infrastructure and financial resources, prevent distress sales and ensure bargaining power.
Decentralised Development: They have the potential to realise the paradigm of decentralised development. Just as panchayati raj institutions(PRI) carry forward decentralised rural development, cooperative societies can become the medium to cater to business requirements.
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