UPSC & GPSC · Current Affairs
Week-long Celebrations Mark Five Years of the Ministry of Cooperation
Source: PIB Delhi
What’s in News
The Ministry of Cooperation launched week-long nationwide celebrations marking five years of its establishment, held from 29 June to 6 July 2026 under the theme “Sahakar Se Samriddhi” (Prosperity through Cooperation), concluding with a national event at Bharat Mandapam, New Delhi.
Key Facts
- The Ministry of Cooperation was established on 6 July 2021; the celebration theme is “Sahakar Se Samriddhi”.
- Participants include States and UTs, national cooperative federations, cooperative banks, District Central Cooperative Banks (DCCBs), Urban Cooperative Banks (UCBs), and Primary Agricultural Credit Societies (PACS).
- Sectors covered: agriculture, dairy, fisheries, storage, food processing, and rural finance.
- Activities include cooperative exhibitions, seminars and workshops, youth engagement programmes, and awareness campaigns.
Static Information
- The 97th Constitutional Amendment Act, 2011 granted constitutional status to cooperative societies, introducing Article 43B (a Directive Principle) and Part IXB of the Constitution.
- Article 43B promotes the voluntary formation, democratic functioning, professional management, and autonomous operation of cooperative societies.
- PACS are grassroots cooperative credit institutions providing short-term agricultural credit, input supply, and storage/marketing support – considered the backbone of rural cooperative credit.
- Major cooperative institutions in India include IFFCO, KRIBHCO, NAFED, and AMUL.
Consider the following statements regarding the cooperative sector in India:
1. Article 43B of the Constitution promotes voluntary formation and democratic functioning of cooperative societies.
2. The Ministry of Cooperation was established in 2021.
3. Primary Agricultural Credit Societies (PACS) primarily provide long-term industrial credit.
Which of the statements given above is/are correct?
A. 1 and 2 only
B. 2 and 3 only
C. 1 only
D. 1, 2 and 3
Answer: A) 1 and 2 only
Statements 1 and 2 are correct. Statement 3 is incorrect – PACS mainly provide short-term and medium-term agricultural credit, not long-term industrial credit.
