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2w ago

Maharashtra to Overhaul Cooperative Sector with New Law and Expert Committees

Union Minister Nitin Gadkari and CM Devendra Fadnavis announce plans to modernize cooperative governance, boost rural incomes, and conduct socio-economic impact assessments.

Chief minister Devendra Fadnavis on Monday released a booklet on progress of the Maharashtra State Cooperative Bank. Union minister for road transport and highways, Nitin Gadkari, and NCP-SP chief Sharad Pawar were also present. (ANI)
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Overview

  • Union Minister Nitin Gadkari has proposed drafting a new cooperative law combining key provisions of the Companies Act and Cooperative Act to address evolving economic conditions.
  • The Maharashtra government, led by CM Devendra Fadnavis, will form a committee to amend the Cooperative Societies Act, 1960, adding new chapters tailored to different sectors.
  • A comprehensive socio-economic impact study of the cooperative movement at tehsil and district levels has been recommended to evaluate its contributions to rural employment and income growth.
  • A ₹750 crore Mother Dairy plant in Vidarbha aims to increase milk production to 50 lakh litres within three years, addressing regional disparities and supporting farmer welfare.
  • Deputy CM Eknath Shinde highlighted reforms driven by the Union Ministry of Cooperation, noting the Maharashtra Cooperative Bank's ₹62,000 crore turnover as a sign of sectoral strength.