Cooperatives with minority government share holding will be freed of government control. The powers of the registrar of cooperatives will also be curtailed to stop interference in the running of cooperative ventures.
Agriculture minister Nitish Kumar told Business Standard that the proposed bill to amend the multi-state cooperative societies Act provides for full autonomy to cooperatives having less than 51 per cent state equity. In other cooperatives too, government interference will be reduced to the minimum. The much awaited measure to amend the archaic law governing the multi-state cooperatives, after facing a number of hurdles, is ready to be introduced in the winter session of Parliament, beginning on November 20. The Bill has already been cleared by the Cabinet.