There has been a remarkable turnaround in the fortunes of the Kerala State Cooperative Consumers’ Federation posting a profit of Rs 64.78 crore in 2016-17, reports TOI.
At the central level the apex body NCCF has so far failed to achieve the matching results.
This is indeed a ‘great achievement’ considering the apex institution in the cooperative sector had declined due to ‘corruption, inefficiency and splurge’, the cooperation minister told press men.
The other factors that brought this turnaround about were strict financial discipline, reduction of expenditure including that on interests, collection of incentives from companies, centralized purchase system, e-tendering and an increased income generation, the minister added.
