RS nod to Multi-State Cooperative Societies Amendment Bill

Rajya Sabha on Tuesday passed the Multi-State Cooperative Societies (Amendment) Bill 2023, which seeks to strengthen cooperatives by making their functioning more transparent, introducing a system of regular elections, and prohibiting the appointment of related persons. Minister of State Cooperation B L Verma moved the Multi-State Cooperative Societies (Amendment) Bill, 2023, for consideration and passage in the Rajya Sabha.
The bill, which had been approved by the Lok Sabha on July 25, 2023, was passed in the Rajya Sabha.
While replying to queries on the bill, Verma said that the bill provides for norms for the appointment of employees, which ensures that there is no nepotism practices.
He said that India’s target of becoming a 5-trillion dollar economy cannot be achieved without the progressive role of the cooperative sector.
Noting that there is a limit for the private sector when it comes to employment generation, he said that the cooperative sector can spur jobs as the government is strengthening the cooperatives by expanding their sphere of work into areas like LPG and petrol pump dealerships.
The bill seeks to establish a ‘Cooperative Election Authority’ with a view to introducing electoral reforms in the cooperative sector.
It will consist of a chairperson, vice chairperson, and members not exceeding three to be appointed by the central government.