CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The National Cooperative Policy 2025 has been introduced to modernize and rejuvenate India’s cooperative ecosystem, replacing the outdated 2002 framework. This new policy envisions creating a dynamic, inclusive, and forward-looking cooperative sector. With an ambitious goal to triple the sector's contribution to GDP by 2034, the policy also aims to boost the number of cooperative societies and active members nationwide.
Key Focus Areas And Sectoral Integration
The policy extends support to emerging sectors such as tourism, taxi services, renewable energy, and insurance, encouraging the formation of cooperatives in these areas. These initiatives aim to ensure that profits generated from these sectors directly benefit rural Primary Agricultural Credit Societies (PACS) and grassroots-level members.
Six Strategic Pillars Of Policy
The 2025 policy is built on six foundational principles:
Strengthening core cooperative structures
Promoting vibrancy and competitiveness
Preparing cooperatives for future challenges
Fostering inclusivity across demographics
Widening the cooperative network’s reach
Engaging youth in cooperative development
These pillars are designed to make cooperatives more resilient, agile, and innovative in a rapidly changing economic landscape.
Goals And Implementation Strategy
To drive measurable impact, the policy outlines several ambitious targets:
Triple the sector’s GDP contribution by 2034
Increase the number of cooperative societies by 30%, from 8.3 lakh to over 10.7 lakh
Activate 50 crore individuals, including non-members and dormant members
Establish 2,00,000 PACS by February 2026, ensuring cooperative access in every village
These initiatives aim to significantly expand the reach and influence of India’s cooperative movement.
Legal Reforms And Institutional Support
Recognizing the limitations of outdated laws, the policy introduces progressive legal amendments to streamline cooperative operations. One of the major highlights is the proposal to set up Tribhuvan Sahkari University, which will focus on cooperative education, training, and research. Additionally, cooperative banks are now brought under the Banking Regulation Act, with the RBI adopting a more flexible and enabling regulatory approach for the sector.
Inclusive Policy Formation
The policy was formulated through an extensive consultative process. A 48-member expert committee, chaired by former Union Minister Suresh Prabhu, played a central role in shaping the document. Feedback was gathered from over 648 stakeholders during 17 committee meetings and 4 regional workshops, ensuring the final policy reflected diverse perspectives and on-ground realities.
Road Ahead: Diversification And Rural Empowerment
The National Cooperative Policy 2025 encourages cooperatives to explore non-traditional sectors, especially those offering high employment potential. This expansion is expected to enhance rural income generation, create local job opportunities, and drive sustainable development. While government support remains strong, the success of this policy depends on the internal strengthening and adaptability of cooperative institutions themselves.
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