STATE TIMES NEWS
New Delhi: The Union Cabinet on Wednesday approved amendments to the Multi-State Cooperative Societies Act to bring transparency and accountability in the sector as well as reform the electoral process.
The Union Cabinet has approved the Multi-State Cooperative Societies (Amendment) Bill, 2022, which seeks to amend the Multi-State Cooperative Societies Act, 2002, I&B Minister Anurag Thakur told reporters here after the Cabinet meeting. The Bill will incorporate the provisions of the 97th Constitutional Amendment.
Thakur said the amendments seek to improve the ease of doing business, bring greater transparency and enhance governance in these societies.
Explaining the reasons behind the amendment Bill, he said there have been cases of mismanagement like financial fraud, delay in holding elections and the same person continuing to occupy for a long period of time. Multi-state co-operatives subject comes in the Union list, he said, but added that the amendments are being proposed after the consultation with all states.
The government plans to bring the amendment Bill in the upcoming winter session of Parliament, Thakur said.
At present, India has more than 1,500 multi-state co-operative societies spread across the country promoting economic and social betterment of their members based on the principles of self-help and mutual aid.
