Pune: Defence Minister Rajnath Singh on Thursday said the co-operative sector is poised to play a vital role in making India the third-largest economy in the world in the next few years.
He said the creation of a separate Ministry of Co-operation (in 2021) underscores the importance the Narendra Modi government gives to the key sector.
The move has revived and strengthened the sector, said the senior BJP leader and added over the years cooperative societies have played a crucial role in social and economic development of farmers.
Addressing a literature award ceremony at Pravaranagar in western Maharashtra’s Ahmednagar district, he said, “For his third term, Prime Minister Narendra Modi has given a guarantee to the nation that India will be among the top 3 economies of the world, and cooperative societies are going to play a vital role in this journey. Only co-operatives will lead India towards economic prosperity.”
Singh said the cooperative movement has opened a number of avenues for prosperity of the farmers in the country.
“Many cooperative societies like NAFED, IFFCO, and AMUL have played a crucial role in social and economic development of farmers. Such societies have not confined themselves only to the agriculture sector, but they are also spreading their wings in the banking sector. Many cooperative banks all over India are today giving loans to their members at low interest rates for agricultural purposes and for setting up small-scale industries,” the minister said.
Speaking about Farmer Producers Organizations (FPOs), Singh said because of these groups, the farmer is now working in an organized way, right from sowing of the crop till export of the produce.
This has not only led to better crop harvest, but has also enhanced significantly the bargaining power of cultivators at the time of export of the crop yield, he said.
FPOs are bound to play an essential role in development of farmers and the agriculture sector, noted Singh.
Talking about the Centre’s scheme ‘Sahakar Se Samriddhi’ (prosperity through cooperation), Singh said through it, the government is trying to revive many sectors, including the sugar segment.
“We are also strengthening urban and rural cooperative banks under the scheme. Our efforts through this scheme will help in creating a strong co-operative movement in the entire country. ‘Prosperity through cooperation’ is not just our plan, it is our mantra,” said the minister.
Elaborating on the importance of self-help groups, Singh maintained SHGs are playing a significant role in social and economic empowerment of women in the country.
He said PM Modi, during his Independence Day speech this year, announced that the government aims to make about two crore women ‘Lakhpati Didis’ (women who will be provided skill training to help them earn at least Rs 1 lakh a year) by helping these SHGs.
“By Lakhpati Didi, we do not only mean economic empowerment of women, but our Lakhpati Didis will also create employment in rural areas of the country,” Singh said.
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