Sahakar Bharati participated in an important meeting held between RSS leaders and three important ministers of Narendra Modi’s cabinet. In the four-hour long meeting aimed at giving final shape to the 2016 union budget, role of cooperatives was also discussed.
The three ministers included Union Finance Minister Arun Jaitley, Coal Minister Piyush Goyal and Petroleum Minister Dharmendra pradhan. The three of them have not only important portfolios with them but are also regarded as A-team of Prime Minister Narendra Modi created to achieve the dream of a strong India.
Sahakar Bharati President Jyotindra Mehta, General Secretary Prof Uday Joshi and NAFCUB Advisor G Krishna participated in this meeting. Krishna was earlier Chief Executive of Nafcub and is regarded as an expert on the issues facing urban cooperative banks.
On Krishna’s inclusion in the team Sahakar Bharati Chief Jyotindra Mehat said “ I took him along given his vast experience”. Krishna’s presence meant strong advocacy for withdrawal of RBI’s proposal wherein UCBs have been asked to convert to business entities should they wish to grow.
The cooperative leaders led by Mehta are believed to have put a strong case for greater participation of cooperatives in the growth story being written currently in the country.
Mehta has categorically suggested removal of 80 p from cooperative along with his long-standing demand of doing away with the RBI’s latest recommendation on conversion of UCBs.
Briefing Indian Cooperative Mehta said it is not only 80p that bothers us. There are host of sub-sections in the IT Act which limit the role of cooperatives. He mentioned 80c and 43d in this context. Till we had rebate under 80p these did not matter but now they are proving harmful for our business and we impressed the same to the group of ministers, he added.
The meeting which took place at the residence of Union Minister Arun Jaitley had also representatives from other
Starved of top-level consultation in the past, the cooperative movement has lost much of its ground since Nehru’s era. It ceased being mentioned in budgetary speeches and government schemes fought sigh of taking its vast network spread in remote areas on board.
It is thanks to the efforts of Sahakar Bharati that the cooperative sector is taking centre-stage, cooperators told Indian Cooperative.
Mehta added “earlier only FICCI and chamber of commerce were invited. It is a good beginning and we are hopeful that govt would address the long pending demands of cooperative sector.”