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Consider the following statements regarding National Cooperative Development Corporation:
- It is a statutory body established by an Act of Parliament.
- It works under the Ministry of Cooperation.
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 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements regarding National Cooperative Devel...
National Cooperative Development Corporation had earlier launched its own initiative named Sahakar– 22, during FY 2017-18.
- This initiative of NCDC included the following:
- FOCUS 222 – NCDC’s focused assistance for Cooperatives in 222 Districts (including 117 Aspirational Districts identified by NITI Aayog);
- PACS HUB – Transformation of PACS and other Coops as Apna Kisan Resource Centers;
- AENEC - Act East and North East Cooperatives;
- CEMtC - Centres of Excellence to Market through Cooperatives;
- SAHAKAR PRAGYA - Capacity Development through Laxmanrao Inamdar National Academy for Cooperative Research Development (LINAC).
Key Facts about NCDC
- The National Cooperative Development Corporation (NCDC) was established by an Act of Parliament in 1963 as a statutory Corporation.
- Nodal Ministry: The Ministry of Cooperation.
- Functions
- Planning, promoting and financing programmes for production, processing, marketing, storage, export and import of agricultural produce, food stuffs, certain other notified commodities e.g. fertilisers, insecticides, agricultural machinery, lac, soap, kerosene oil, textile, rubber etc.,
- Supply of consumer goods and collection, processing, marketing, storage and export of minor forest produce through cooperatives, besides income generating stream of activities such as poultry, dairy, fishery, sericulture, handloom etc.
Hence both statements are correct.
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Consider the following statements regarding National Cooperative Devel...
Explanation:
The correct answer is option 'C', i.e., both statement 1 and statement 2 are correct.
Statement 1: It is a statutory body established by an Act of Parliament.
Statement 2: It works under the Ministry of Cooperation.
Explanation of Statement 1:
The National Cooperative Development Corporation (NCDC) is indeed a statutory body established by an Act of Parliament. It was created through the National Cooperative Development Corporation Act, 1962, which was enacted by the Indian Parliament. This Act provides for the establishment of the NCDC and outlines its functions, powers, and organizational structure. As a statutory body, the NCDC operates within the legal framework defined by this Act.
Explanation of Statement 2:
The National Cooperative Development Corporation (NCDC) does work under the Ministry of Cooperation. The Ministry of Cooperation is a ministry of the Government of India that was established in July 2021. Its primary objective is to strengthen and promote cooperatives as a separate organization and legal entity. The NCDC, being a key institution involved in the development and promotion of cooperatives in India, operates under the administrative control of the Ministry of Cooperation.
Conclusion:
Both statement 1 and statement 2 are correct. The National Cooperative Development Corporation (NCDC) is a statutory body established by an Act of Parliament, and it operates under the Ministry of Cooperation.
The correct answer is option 'C', i.e., both statement 1 and statement 2 are correct.
Statement 1: It is a statutory body established by an Act of Parliament.
Statement 2: It works under the Ministry of Cooperation.
Explanation of Statement 1:
The National Cooperative Development Corporation (NCDC) is indeed a statutory body established by an Act of Parliament. It was created through the National Cooperative Development Corporation Act, 1962, which was enacted by the Indian Parliament. This Act provides for the establishment of the NCDC and outlines its functions, powers, and organizational structure. As a statutory body, the NCDC operates within the legal framework defined by this Act.
Explanation of Statement 2:
The National Cooperative Development Corporation (NCDC) does work under the Ministry of Cooperation. The Ministry of Cooperation is a ministry of the Government of India that was established in July 2021. Its primary objective is to strengthen and promote cooperatives as a separate organization and legal entity. The NCDC, being a key institution involved in the development and promotion of cooperatives in India, operates under the administrative control of the Ministry of Cooperation.
Conclusion:
Both statement 1 and statement 2 are correct. The National Cooperative Development Corporation (NCDC) is a statutory body established by an Act of Parliament, and it operates under the Ministry of Cooperation.
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Consider the following statements regarding National Cooperative Development Corporation: It is a statutory body established by an Act of Parliament. It works under the Ministry of Cooperation.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 'C'. Can you explain this answer?
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