President hails role of cooperatives in development

President hails role of cooperatives in developmentNew Delhi, Dec 8 : Cooperatives are pivotal institutions for bringing socio-economic development for inclusive growth in rural areas, President Pranab Mukherjee said Saturday. There are six lakh cooperatives with 24 crore members in India.

"Cooperatives in India have made a visible and significant contribution to the overall economic growth of our economy. This is especially so in the sectors of agricultural credit, sugar, dairy, textiles, fisheries, distribution of fertilizers and agricultural inputs, storage and marketing," the president said here at a function to give biennial excellence awards to the cooperative societies.

"Cooperatives in our country are pivotal institutions for bringing socio-economic development for inclusive growth in rural areas," he said.

Three cooperative societies won the award at national level, and 24 societies were awarded at the state level.

The president added with a network of six lakh cooperatives and a membership base of 24 crore, the Indian cooperative movement has proved to be an effective economic instrument for ensuring growth with equity and inclusiveness.

Union Agriculture and Food Processing Minister Sharad Pawar, minister of state Charan Das Mahant, and Managing Director of National Cooperative Development Corporation (NCDC) C. B. Paliwal were also present at the function. (IANS)

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