Mumbai, March 24 (IANS) 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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