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Maharashtra Announces New Cooperative Policy for Economic Growth

Maharashtra's Cooperation Minister Babasaheb Patil announced the state will soon release a comprehensive new cooperative policy. A 15-member committee is drafting the policy, which will incorporate suggestions from experts and activists across divisions. The policy aims to strengthen the sector, which includes over 2.33 lakh societies, through digitization, financial assistance, and support for farmers. It reaffirms the cooperative movement's role as a pillar of rural economic development and future job creation.

Key Points: Maharashtra's New Cooperative Policy: Key Details

  • New policy to prioritize transparency & efficiency
  • 15-member committee drafting the framework
  • Support for 2.33 lakh cooperative societies
  • Focus on digitization and farmer loan benefits
2 min read

Maha govt to release New Cooperation Policy soon: Minister ​

Maharashtra to launch a new cooperative policy focusing on transparency, digitization, and farmer support to boost the rural economy.

"The cooperative movement is the backbone of the rural economy. - Minister Babasaheb Patil"

Mumbai, March 24

Maharashtra Minister of Cooperation Babasaheb Patil on Tuesday announced in the State Council that the government will soon release a comprehensive new cooperation policy to further push for the development of the sector. ​

He claimed that the cooperative sector is a model for social and economic transformation. ​

He was responding to a short-duration discussion initiated by member Pravin Darekar under Rule 97.​

He told the House that a 15-member committee has been established to draft the new policy. ​

Meetings will be held across various divisions, including Mumbai and Nagpur, to incorporate suggestions from experts, experienced activists, and the younger generation. The policy will prioritise transparency, efficiency, and sustainable development.​

Minister Patil emphasised that the cooperative movement is the backbone of the rural economy, with approximately 2.33 lakh cooperative societies active in the state. ​

This network includes apex institutions, District Central Co-operative Banks (DCCBs), primary agricultural credit societies, urban banks, sugar factories, and housing societies.​

He said the state government is strengthening the sector through interest subsidies for district central cooperative banks, grants for primary institutions, interest rebates for farmers who consistently repay crop loans, digitisation of cooperative societies, margin money and loan schemes for sugar factories, along with National Cooperative Development Corporation (NCDC) funding for various projects.​

Currently, 128 cooperative and 134 private sugar factories are operational. The Fair and Remunerative Price (FRP) rules ensure the protection of farmers. ​

Through the Vasantdada Sugar Institute, modern machinery and direct on-field guidance will be provided to farmers to increase productivity and extend the crushing season, he said. ​

He further added that financial assistance is being provided to distressed DCCBs.​

Additionally, the redevelopment of housing societies has been fast-tracked, with improved grievance redressal mechanisms and faster decision-making processes. ​

Minister Patil concluded by stating that the cooperative movement will play a vital role in future job creation. ​

He reaffirmed the government's commitment to strengthening sectors like dairy and fisheries through cooperatives, ensuring the movement remains a robust pillar of the state's development.​

- IANS

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Reader Comments

S
Sarah B
Transparency and efficiency should be the top priority. In the past, there have been issues with mismanagement in some housing societies. If the new policy can ensure faster grievance redressal and cleaner operations, it will be a huge win for common citizens.
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Aditya G
Good to see the focus on the younger generation's suggestions. We need modern business models within the cooperative framework to attract youth. Maybe apps for managing society finances or connecting farmers directly to markets? The potential is massive.
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Priyanka N
Strengthening dairy and fisheries cooperatives is excellent news. In my village, the women's dairy cooperative changed many lives. More support here means more stable incomes for families. Hope the policy implementation is as good as the announcement.
M
Michael C
While the intent sounds positive, I hope this isn't just another committee report that gathers dust. We've seen many policies announced. The real test will be on-ground execution and whether the benefits actually reach the smallest farmer or housing society member.
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Kavya N
Extending the crushing season for sugar and providing field guidance is crucial. Sugar cane farmers face so much uncertainty. If the Vasantdada Institute support is effective, it can make a real difference in productivity and income. Fingers crossed! 🤞

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