Addressing members of PACS and cooperative banks, Andhra Pradesh cooperative minister said he was pursuing the matter of abolishing VAT on the cooperative societies in the state with the Chief Minister and was hopeful of a positive outcome.
The cooperative minister added he would also soon be discussing with the central govt. The issue of exempting the cooperatives from income tax is something cooperative sector has been demanding for a long time.
According to the minister, the cooperatives would soon have elections and experience democracy.
Sources say there are nearly a hundred PACS in Andhra Pradesh but about half of them are not doing well.