Maharashtra Chief Minister Devendra held a workshop on “Empowering policy to cooperatives and governments” in Mumbai on May 12, 2025. Image source: X/@cmomaharashtra
Maharashtra Chief Minister Devendra Fadnavis announced the establishment of a committee on Monday (May 12, 2025) to study the amendment to the Maharashtra Cooperatives Act 1960.
“The existing Cooperative Society Act needs to be over time. To do this, new chapters related to each department will be included in the law,” Fadnavis said.
Road Transport Union Minister Nitin Gadkari suggested a new law for the state’s cooperative sector to consider evolving economic conditions and market competition. Mr. Gardkari also presented a detailed study to examine the socio-economic impact of the state’s cooperative movement.
“The capital market is so huge. The government should push it. Well-run organizations – let them sell stocks in the market. If they do well, their share value will increase; otherwise (otherwise) will fall.”
“There is no choice,” Mr. Gardkari said.
Mr. Fadnavis takes China as an example. “As time goes by, ideological dominance politics gradually becomes weaker and weaker. So, as time goes by, we should adapt. In the early days, communism was fashion, and now everything is [has] Mr Fadnavis said he added that China still has a “red flag” (referring to communism) but has embraced liberal economic thinking and abandoned the Marxist ideology in order to develop the country’s development.
Impact Research
Mr Gadkari reflects on the image of the cooperative movement outside Maharashtra and points out that the story of the cooperative department is “image and reality, ground reality and perception”.
He gave examples of the interstate Madhavpura commercial cooperative bank headquartered in Gujarat. “The bank has been removed, bringing the name to the cooperative sector, but only the bad things are remembered. Therefore, it is important to conduct research on the socio-economic impact of the cooperative movement and to understand the impact of the credit society, housing society, consumer society, consumer society and urban cooperative banks,” Mr Gadkari said, which would make social writing in society.
“22% to 24% of GDP come from manufacturing. The service sector contributes 52% to 54% to GDP, resulting in the highest GST (Gross and Services Tax). The agricultural and rural development sector is in the third [position]only contributes 12% [to the GDP] Despite hiring 60% of the population,” Gardkari said.
He said almost 30% of the population migrates to cities for better income and education. “The cooperative sector helps people in rural areas arrange capital for small businesses, such as e-rickshaws, vegetable sellers or tea stands, which are not available from the state bank due to the insignificant economic amounts.”
He cites the example of Korhapur district, where the per capita income is the highest due to the production of milk and the existence of sugar factories. “Kolhapur produces 700,000-800,000 litres (milk) prosperity. On the other hand, Vidarbha lacks such milk production. The cooperative sector can promote the village. Rs 75 billion of breast milk farms have been established in VIDARBHA in Nagpur, and if we can reach Rs 50 (Infort), this could be a factory for over 50 years. Stop,” said Mr. Gardkari.
publishing – May 12, 2025 11:17 pm ist
