Archive · 24 Jul 2025
India's New Cooperation Policy Aims to Boost Sector GDP
Imagine a group of people working together to help each other, like a big team.
The government has a new plan to make these teams, called cooperatives, even better.
The plan is to help them grow and do more things like offer insurance or taxi services.
The goal is to make them stronger, so they can help more people.
This plan is designed to create jobs and contribute more to the country's economy by involving more people in the cooperative system and helping them grow.
Amit Shah unveiled the National Cooperation Policy aiming to triple the cooperative sector's GDP contribution by 2034.
The policy targets expansion into tourism, taxi services, insurance, and green energy.
A multi-purpose taxi cooperative will be established by the end of this year.
The policy aims to bring 50 crore new members into the cooperative fold.
The policy was developed after extensive consultations with stakeholders, including the Reserve Bank of India and NABARD.
- Who
- Union Home and Cooperation Minister Amit Shah
- What
- Unveiling of the National Cooperation Policy
- When
- Announced on Thursday, July 24, 2024.
- Where
- New Delhi
- Why
- To propel the cooperative sector's GDP contribution, support India's goal of becoming a developed nation by 2047 and expand into new sectors.
Supporters
Critics
Economic Impact
Supporters
The policy will help create an inclusive, self-reliant, and future-ready model.
Critics
The policy will make cooperative institutions job-creating centers.
- Policy Goal
- Triple cooperative sector's GDP contribution by 2034
- Focus Areas
- Tourism, taxi services, insurance, green energy
- Taxi Cooperative
- To be established by end of year
- New Members Target
- 50 crore
- Existing Members
- 8.3 lakh
- Policy Framework
- Second such policy in 23 years