World’s number one fertiliser cooperative IFFCO has hailed the Government of India move to create a new Ministry of Cooperation with an aim to strengthen the cooperative movement in the country.
IFFCO Chairman B S Nakai hailed the decision and said that it’s a welcome step and we at IFFCO welcome this step of Hon’ble PM of India Sh. Narendra Modi ji. It will certainly boost the rural economy of the country apart from the giving strength to Indian Cooperative movement. It’s a true form of ‘sahkar se samriddhi’ (through cooperation to prosperity).
Nakai further said that this is a “historic move” as this is first of its own kind where the entire cooperative system run by an individual ministry which will provide a separate administrative, legal and policy framework for strengthening the cooperative movement in the country. This move will also help in reaching up the cooperative movement to the grassroots.
A cooperative based economic development model is very relevant where each member works with a spirit of responsibility. The new ministry will work to streamline processes for ‘ease of doing business’ for cooperatives and enable development of multi-state cooperatives (MSCS), he underlined.
“I am happy to share that the central government has truly signalled its deep commitment to community-based developmental partnership. Creation of a separate Ministry for Cooperation also fulfils the budget announcement made by the finance minister”, the Chairman said.