The 47th AGM of National Consumer Cooperative Federation was held on Monday at the NCUI campus in N Delhi. Delegates from across the states came to participate in the annual jamboree.
Announcing a profit of Rs 8 crore for the year a beaming Chairman Virendra Singh said that it was possible with members’ support and without any substantial help from the government.
He said that NCCF has achived a lot but it has yet to go far ahead. Stressing on the democratic nature of cooperative he invited members to express themselves freely. But the Chairman rued the absence of a full-time Managing Director.
Mr Parida, the MD is there, but he has many jobs at hand. It would have been beneficial for NCCF if he could have concentrated full-time in the Federation. Indian Cooperative has learnt that many business ideas await MD’s approval for their implementation for months together.
In a free-for-all atmosphere delegates charged the Board of many discrepancies in audit report. They raised the issue of missing Rs 28 lakh in Kolkata branch of NCCF. Paddy procurement by Kanpur branch and reconciliation of accounts of Delhi branch were also raised.
A confident Chairman answered each query and told that there is nothing to hide as our audit report is placed before the Parliament. We have government nominee on our board, he reminded the assembled delegates.
Members raised the issue of exemption from Income Tax as NCCF had to shell out Rs 2.5 crore towards this. Suggestions like exemption from GST were also included in the recommendation list.
Chandra Pal Singh said that consumer cooperative has huge scope in the country especially in the light of allowing FDI in retail. He exhorted the assembly to tie up with cooperatives in villages to set up NCCG outlet. Let us have at least one NCCF outlet in each state, he added.