National Cooperative Policy 2025

IAS Current Affairs

7 months ago

Source: Hindustan Times
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Overview

Why in the News?

Union Home Minister unveiled the National Cooperative Policy 2025.

Play a key role in achieving the goal of Viksit Bharat by 2047, create large-scale livelihood opportunities, and ensure development at the grassroots level by bringing over 500 million citizens under its ambit.
The mission of the policy is to promote small cooperative units that are professional, transparent, technology-enabled, accountable, economically self-reliant, and successful and to ensure at least one cooperative unit is established in every village.
The core of the cooperation policy is villages, agriculture, rural women, Dalits, and Tribals.
The National Cooperative Policy will be effective from 2025 to 2045.
The policy is drafted by a 48-member committee led by Suresh Prabhu.

The vision of the new cooperation policy is to build a Viksit Bharat by 2047 through Sahkar Se Samriddhi.
Policy defined the six pillars to achieve the set goals for the cooperative sector.
1. Strengthening the foundation
2. Promoting vibrancy
3. Preparing cooperative societies for the future
4. Enhancing inclusivity and expanding reach
5. Expanding into new sectors
6. Preparing the younger generation for cooperative development.
By 2034, the National Cooperation Policy aims to triple the cooperative sector’s contribution to GDP, bring 50 crore active members into the fold, and connect youth with employment opportunities.
By 2047, every village will have at least one cooperative unit.

The cooperative sector dates back to before Independence, with the enactment of the Cooperative Credit Societies Act in 1904 following the recommendations of the Edward Law Committee.
There was an exponential expansion in the sector, with the number of societies registered under it increasing to 5,300 and their membership to over 3 lakh by 1911.
Cooperative Societies Act of 1912 was enacted, providing a basic framework for the organisation of these cooperatives. This led to the constitution of the first Cooperative Housing Society, the Madras Cooperative Union, in 1914.
Banking crisis and the First World War, Maclagen Committee on Cooperation was constituted in 1914 to suggest on the state of credit cooperatives.

Constitutional Provision

97th constitutional amendment, Part IXB (The Co-Operative Societies) was inserted into the Constitution. The right to form cooperative societies was included as the Right to Freedom under Article 19 (1), Part-3 of the Constitution.
Article 43-B (Promotion of Cooperative Societies) was also inserted as one of the Directive Principles of State Policy under Part 4 of the Constitution of India.

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