‘Ministry of Co-operation’: Modi govt creates new ministry for strengthening cooperative movement

New Delhi, July 06: Prime Minister Narendra Modi government on Tuesday created new Ministry of Co-operation for realising vision of 'sahkar se samriddhi' (prosperity from cooperation). This ministry will provide separate administrative, legal and policy framework for strengthening cooperative movement in the country.

This ministry will provide a separate administrative, legal and policy framework for strengthening the cooperative movement in the country.

A minister in charge for the new portfolio may be named on Wednesday.

The new ministry will help deepen cooperatives as a true, people-based movement reaching till the grassroots.

In the country, a cooperative-based economic development model is very relevant where each member works with a spirit of responsibility.

The ministry will work to streamline processes for ''ease of doing business'' for cooperatives and enable development of multi-state cooperatives (MSCS).

The central government has signalled its deep commitment to community-based developmental partnership. The creation of a separate ministry also fulfils the announcement made by the Finance Minister in the Union Budget.