Nitin Gadkari bats for new law to strengthen cooperation sector in Maharashtra

Mumbai, May 12 (IANS) Union Road Transport and Highways Minister Nitin Gadkari, on Monday, suggested the Maharashtra government to draft a comprehensive law comprising the provisions of the Company Act and Cooperation Act in a serious bid to further strengthen the cooperative sector in Maharashtra and thereby provide the much needed assistance to the needy people.

The Minister made a strong pitch for transformation in the cooperative sector with the changing situation.

"If the law is not amended over the period then the relevance of the cooperative movement will recede. Therefore, there is a need for a new law while keeping the spirit of the movement intact but by bringing in changes in the letter. Cooperation being a concurrent subject, the Maharashtra government can bring in a new law by incorporating various key provisions of the Company Act and Cooperative Act and the necessary rules," he said in his speech at the symposium on International Co-operative Day organised here by the Maharashtra State Cooperative (MSC) Bank.

"The changes in law and rules if done safeguarding the interests of the society, poor and the cooperation sector, then I am confident that the cooperative movement will become successful," Gadkari added.

He asked the state government to promote those who work vigorously for further development of the cooperation sector and punish those who misuse the existing provisions.

He made these observations in presence of Chief Minister Devendra Fadnavis, Deputy Chief Ministers Eknath Shinde and Ajit Pawar, former Union Minister Sharad Pawar and the MSC Bank Administrator Vidyadhar Anaskar.

During his speech, Gadkari reviewed the progress so far made by the cooperative sector in Maharashtra and at the India level.

Quoting the Shetkari Sanghatana founder Sharad Joshi, the Minister said, "The success in cooperative sector is not the success of cooperative movement. It is the success of leader who leads the cooperative."

As far as Maharashtra is concerned, the Minister emphasised the need for carrying out an in-depth socio economic impact analysis of the cooperative movement in the state.

He called upon the MSC Bank to do it on a priority basis which will help the cooperative movement and the sector to further grow.

Gadkari said that the cooperative banks and other institutions from the sector have come forward to help the rikshaw pullers, small vendors and farmers with small and marginal holdings that has helped make them to improve their livelihood.

He shared his own example saying that he was able to set up a cooperative sugar factory initially due to the active support from few cooperative banks and institutions after the public sector banks showed reluctance.

However, he added that during the later phase the public sector banks came forward to help other ventures.

--IANS

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