Mumbai, 31 August (Hindustan). Defense Minister Rajnath Singh said that the cooperative sector is set to play an important role in making India the third largest economy in the coming years. He said the importance given to the cooperative sector by the government is highlighted by the creation of a separate Ministry of Cooperation, which has revived and strengthened the sector.
Defense Minister Rajnath Singh was addressing a literary award function in Ahmednagar on Thursday. He said that Prime Minister Narendra Modi has assured the country that in his third term, India will be among the top three economies of the world and cooperatives across the country will play an important role in this journey. Only co-operatives will lead India towards economic prosperity. Cooperative sector is an emerging sector today. Not only is it mentioned in our constitution, but a separate cooperative ministry has also been set up under the leadership of the Prime Minister to promote the cooperative movement.
The Defense Minister said that the cooperative movement has opened up many opportunities for the prosperity of the farmers in the country. “Many cooperatives like NAFED, IFFCO and Amul have played an important role in the social and economic development of farmers. Such institutions are not limited to agriculture sector only but are expanding in the banking sector as well. Many co-operative banks across the country are today providing loans to their members at low interest rates for agricultural activities and setting up small enterprises”.
Maharashtra Chief Minister Eknath Shinde, Minister Radhakrishna Vikhe Patil were present on the occasion.