Maharashtra Chief Minister Devendra Fadnavis on Saturday said Maharashtra had understood the true spirit of the cooperative movement over a century ago and continues to lead the country in using cooperation as the most effective instrument for rural development and financial inclusion.
Addressing the Sahakar Gaurav Awards organised jointly by the Maharashtra State Cooperative Union and Sahakari Maharashtra on the occasion of the International Day of Cooperatives at the Yashwantrao Chavan Centre, Fadnavis said cooperative institutions have played a pivotal role in freeing farmers from the clutches of moneylenders and ensuring that credit reaches the last farmer.
Highlighting Maharashtra’s legacy, he said the cooperative movement has expanded from credit societies to banking, agriculture, dairy, housing and marketing, making the state home to more than two lakh cooperative institutions, the largest cooperative network in the country.
Fadnavis credited the Union Government for giving the sector unprecedented policy importance by establishing the Ministry of Cooperation in 2021 under Union Home and Cooperation Minister Amit Shah.
He said the Centre aims to triple the cooperative sector’s contribution to India’s GDP over the next two decades through measures such as the digitisation of 63,000 Primary Agricultural Credit Societies (PACS), establishment of two lakh new PACS, national cooperative institutions for exports, organics and seeds, and a Central Cooperative University.
The Chief Minister also highlighted key policy decisions, including the waiver of Rs 10,000 crore income tax on cooperative sugar factories and ethanol and compressed biogas (CBG) policies, which he said have given fresh impetus to the sugar sector.
Rejecting concerns that cooperatives would struggle against private players, Fadnavis asserted that cooperative banks have performed better than corporate banks in several areas, particularly in extending financial services across rural Maharashtra.
He said district cooperative banks continue to play a vital role in delivering farm credit because of their close connect with local communities.
On the housing sector, he said amendments to the Cooperative Act and the self-redevelopment policy have empowered cooperative housing societies to redevelop their own properties, enabling many families in Mumbai to move from 400 sq ft homes to nearly 1,000 sq ft apartments.
The ceremony also honoured distinguished individuals and institutions for their contributions to the cooperative movement.
Vidyadhar Anaskar, Administrative Chairman of the Maharashtra State Cooperative Bank, was conferred the Sahakar Maharshi Award, while awards were also presented across categories including banking, agriculture, housing, women’s empowerment, rural development, innovation and cooperative leadership.
