Kerala CM says Centre trying to 'strangulate' co-operative sector through 'irrational' laws

The Left government sees the co-operative sector as an alternative to globalisation.The co-operation week is being held at a time when the sector is facing various challenges such as the demonetisation, the post-COVID recession and the planned move to destroy the co-operative sector, he said.Vijayan noted that the co-operative sector was able to intervene in the banking solutions according to the needs of the people.


PTI | Thiruvananthapuram | Updated: 14-11-2021 22:12 IST | Created: 14-11-2021 21:49 IST
Kerala CM says Centre trying to 'strangulate' co-operative sector through 'irrational' laws
File Photo Image Credit: ANI
  • Country:
  • India

Kerala Chief Minister Pinarayi Vijayan on Sunday said the co-operative sector is a great alternative in modern times, but the laws formulated by the union government show ''concerted effort'' to eliminate the sector itself.

Vijayan, while inaugurating the 68th All India Cooperative Week celebrations, said the central government was trying to manipulate the federal principles of the co-operative sector.

He said the Centre was trying to ''strangulate the co-operative sector through irrational laws''.

''The Co-operative sector is a great alternative in modern times...However, the Centre's law also shows signs of a concerted effort to eliminate the co-operative sector itself. It (union government) is trying to manipulate in a way that totally violates the federal principles of the co-operative sector,'' Vijayan said in his virtual address.

The CM said many provisions of the Income Tax Act still hang over the co-operative sector like the Damocles sword. The Left government sees the co-operative sector as an alternative to globalisation.

''The co-operation week is being held at a time when the sector is facing various challenges such as the demonetisation, the post-COVID recession and the planned move to destroy the co-operative sector,'' he said.

Vijayan noted that the co-operative sector was able to intervene in the banking solutions according to the needs of the people. The services were brought to the doorsteps, welfare pensions were delivered to households and the co-operative sector has undertaken many projects for the people during floods and epidemic season.

He also lashed out at a purported campaign during the Demonetisation period against co-operative societies that it was safe haven for black money.

''Even with the RBI license, permission was denied to the district co-operative societies to change the currencies. The banking sector, which the common man relied on was isolated and humiliated. Still the co-operative sector survived and revived,'' Vijayan said.

Earlier this year the union government has created a Ministry of Cooperation, which the political parties in Kerala had termed as an 'intrusion' into the federalism of the country as the sector falls under the state subject, as per the Constitution.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback