The "Sahakar Se Samriddhi" initiative is a transformative program designed to leverage the potential of cooperatives for driving India's economic growth. This initiative is spearheaded by the Union Ministry of Cooperation.
The Ministry of Cooperation was established to empower and enable the Indian populace, especially in rural areas, to contribute effectively to the economy through cooperatives. Its primary goal is to ensure financial self-reliance for every family within each panchayat or nagar palika by utilizing existing skills and opportunities such as farming and animal husbandry.
The cooperative sector plays a significant role in various segments of the Indian economy. This includes agricultural credit distribution, fertilizer production, sugar and milk production, and the procurement of wheat and paddy. It is deemed essential for promoting rural development and achieving inclusive economic growth.
The initiative's key objectives involve empowering cooperatives, enhancing their grassroots reach, promoting a cooperative-based economic development model, and modernizing the sector through technology. Achieving these goals will involve implementing various policy measures and support mechanisms.
The Ministry of Cooperation aims to create job opportunities by transforming Primary Agricultural Credit Societies (PACS) into multipurpose business units. These units are designed to provide jobs, income, and professional opportunities across sectors such as agriculture, manufacturing, and services.
Efforts to strengthen cooperative banks include increasing loan limits and incorporating them into collateral-free loan schemes. Such measures are expected to stimulate economic activity, particularly in rural and semi-urban regions.
The new cooperative policy is set to enhance transparency, empower rural communities, foster self-reliant agriculture, and modernize the cooperative sector using technology. It will establish a robust framework for cooperative growth and development.
Cooperatives can significantly contribute to India's ambition of becoming a $5 trillion economy. They can provide essential capital, technology, and marketing assistance to farmers in agriculture, while also supporting small manufacturing businesses and offering affordable services in housing, healthcare, and transportation.
Cooperatives have the capacity to create jobs across various sectors, including agriculture, manufacturing, and financial services. Successful examples like Amul and IFFCO illustrate the job creation potential within these cooperative frameworks.
The future vision for cooperatives in India focuses on achieving self-sufficiency, transparency, and competitiveness. By adopting modern practices, ensuring sound governance, and maintaining financial viability, cooperatives aim to effectively compete with commercial firms and contribute to national economic growth.
Q1. What is the "Sahakar Se Samriddhi" initiative?
Answer: The "Sahakar Se Samriddhi" initiative is a program led by the Union Ministry of Cooperation aimed at enhancing the role of cooperatives in India's economic growth.
Q2. How does the cooperative sector benefit the Indian economy?
Answer: The cooperative sector significantly contributes to agricultural credit, production of essential goods, and rural development, fostering inclusive economic growth.
Q3. What are the main objectives of the Sahakar Se Samriddhi initiative?
Answer: The initiative seeks to empower cooperatives, promote grassroots economic development, and modernize the sector through technology and policy support.
Q4. How will cooperatives help in job creation?
Answer: By transforming PACS into multipurpose units, cooperatives aim to create job opportunities across agriculture, manufacturing, and services sectors.
Q5. What changes does the new cooperative policy bring?
Answer: The new policy enhances transparency, empowers rural areas, promotes self-reliant agriculture, and aims to modernize the cooperative sector through technology.
Question 1: What is the role of the Ministry of Cooperation in India?
A) To regulate financial markets
B) To empower cooperatives for economic growth
C) To oversee foreign trade
D) To manage public sector enterprises
Correct Answer: B
Question 2: Which sector is essential for rural development in India?
A) Information Technology
B) Cooperative Sector
C) Automobile Industry
D) Real Estate
Correct Answer: B
Question 3: What is a key objective of the Sahakar Se Samriddhi initiative?
A) To reduce taxes on imports
B) To empower cooperatives and enhance their reach
C) To privatize public services
D) To increase foreign investments
Correct Answer: B
Question 4: How can cooperatives contribute to India's $5 trillion economy goal?
A) By restricting imports
B) By providing capital and marketing support
C) By increasing taxes
D) By eliminating small businesses
Correct Answer: B
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