Cabinet clears amendments for strengthening Coop societies

Subscribe to Oneindia News

New Delhi, Aug 8 (UNI) The Union Cabinet today cleared certain amendment proposals aimed at strengthening cooperative societies.

The amendments will be moved in the Constitution(One Hundred and Sixth Amendment) Bill, 2006, Minister for Science and Technology Kapil Sibal told mediapersons after the Cabinet meeting.

According to the decision taken by the Cabinet today, an article 43B will be inserted in Part-V of the Constitution providing for their voluntary formation, autonomous functioning, democratic control and professional management.

Moreover, there will be audit by independent auditors or auditing firms out of the panel approved by state government or an authority authorised by the Government in this behalf.

The amendments are also aimed at facilitating free and fair elections to be conducted by an independent body.

Besides, they also provide directors in the cooperative societies which also include two women and Scheduled Caste representatives.

UNI NAZ PD BD1430

Please Wait while comments are loading...