Inaugurating the 60th All India Cooperative Week in Delhi on Thursday, Dr. Chandra Pal Singh, President, National Cooperative Union of India said that Direct Tax Code Bill will harm the cooperatives. “Bringing Cooperatives under taxation purview is a retrograde step as cooperatives meant for weaker sections for socio-economic development can’t be equated with profit-oriented private bodies”, he said.
Dr. M.L. Khurana, Managing Director, National Cooperative Housing Federation of India also echoed Singh’s view. If Direct Tax Code Bill is passed, it will destroy urban cooperative banks and thrift societies”, he said.
The Chairman and M.Ds. of national level cooperative federations present on the occasion were unanimous on this view. The Cooperative Week is celebrated every year from 14th November coinciding with the birthday of Nehru. The theme of Cooperative Week celebrations this year is “Cooperatives for Socio-Economic Resurgence in Changing Times”.
Dr. Chandra Pal Singh Yadav, President, NCUI described the passage of Constitutional Amendment Bill providing autonomy to cooperatives as a unique development for the cooperative movement in the world. He however lamented that many of the states have not amended their state Acts in accordance with Constitution Amendment Bill. 
He further said that Government should trust cooperatives for tackling the problem of inflation and price rise of agri produce. Cooperatives are capable of giving benefits of various welfare schemes (PDS) to the masses both in the urban and rural areas.
B.K. Mishra, M.D., FISHCOPFED said that the cooperatives should build up a strong data base to know the exact number of viable and non-viable cooperatives. Dr. Dinesh, Chief Executive, NCUI read the messages of eminent dignitaries like Vice-President, Cabinet Ministers, State Ministers on the occasion. The key representatives of national level and state level cooperative organisations were present on the occasion.
