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With reference to the cooperative societies, consider the following statements:
1. Cooperation is in the Union list.
2. In 2002, the Centre passed a Multistate Cooperative Societies Act that allowed for registration of societies with operations in more than one state.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
With reference to the cooperative societies, consider the following st...
The government announced the formation of a separate Union Ministry of Cooperation, a subject that till date was looked after by the Ministry of Agriculture. In the Cabinet reshuffle of July 7, Home Minister Amit Shah was given charge of the new Ministry.
  • Cooperatives are organisations formed at the grassroots level by people to harness the power of collective bargaining towards a common goal.
  • In agriculture, cooperative dairies, sugar mills, spinning mills etc are formed with the pooled resources of farmers who wish to process their produce. The country has 1,94,195 cooperative dairy societies and 330 cooperative sugar mill operations. Cooperative sugar mills account for 35% of the sugar produced in the country.
  • In banking and finance, cooperative institutions are spread across rural and urban areas. Village-level primary agricultural credit societies (PACSs) formed by farmer associations are the best example of grassroots-level credit flow.
  • There are also cooperative marketing societies in rural areas and cooperative housing societies in urban areas.
  • Like agriculture, cooperation is in the concurrent list, which means both the central and state governments can govern them.
  • A majority of the cooperative societies are governed by laws in their respective states.
  • In 2002, the Centre passed a MultiState Cooperative Societies Act that allowed for registration of societies with operations in more than one state.
Hence only statement 2 is correct.
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With reference to the cooperative societies, consider the following statements:1. Cooperation is in the Union list.2. In 2002, the Centre passed a Multistate Cooperative Societies Act that allowed for registration of societies with operations in more than one state.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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With reference to the cooperative societies, consider the following statements:1. Cooperation is in the Union list.2. In 2002, the Centre passed a Multistate Cooperative Societies Act that allowed for registration of societies with operations in more than one state.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the cooperative societies, consider the following statements:1. Cooperation is in the Union list.2. In 2002, the Centre passed a Multistate Cooperative Societies Act that allowed for registration of societies with operations in more than one state.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the cooperative societies, consider the following statements:1. Cooperation is in the Union list.2. In 2002, the Centre passed a Multistate Cooperative Societies Act that allowed for registration of societies with operations in more than one state.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
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