Correct Answer : 2 only
Union Cooperation Minister Amit Shah called the cooperative model a middle path of economic development.
Regulation of Cooperatives
* The item “Cooperative Societies” is in the State List (via entry 32).
* Hence, states have been empowered to enact legislations to regulate cooperative societies.
* However, multistate cooperative societies are regulated by the Multi State Cooperative Societies (MSCS) Act, 2002.
* No state government official can exercise any control on multistate cooperative societies.
* In 2002, the then govt announced a National Policy on Cooperatives to support the promotion and development of cooperatives.
* The central govt is planning to bring a new cooperative policy soon.
* In July 2021, a new ministry of cooperation was created for cooperative societies in the country.
* It has been created with the vision of ‘Sahakar se Samriddhi’ (prosperity through cooperatives). Hence only statement 2 is correct.
