Question

A renewed emphasis was given for the growth of the cooperative sector in India through the vision of ”Sahakar-Se-Samriddhi” in recent times. This was so because co-operatives have following strong credentials. Choose the correct combination.
(A) A full-fledged Ministry of Cooperation was established in July 2021 to provide greater focus to the cooperative sector.
(B) There are 8.5 lakh registered cooperatives in the country with over 29 crore members.
(C) The Primary Agriculture Credit Societies (PACS) cover 98 per cent of villages in the country.
(D) Currently, around 29 per cent of agriculture finance is through cooperative societies.

Choose the correct answer from the options given below:

• A. (A), (B) and (C) only.
• B. (A), (B) and (D) only.
• C. (A), (C) and (D) only.
• D. (B), (C) and (D) only.

Hint:

Cooperatives are crucial for rural development and financial inclusion in India. "Sahakar-Se-Samriddhi" emphasizes their role in achieving prosperity.

Answer 1

The Correct Option is B

The "Sahakar-Se-Samriddhi" initiative highlights the importance of cooperatives in India's development. Statement (A) is correct; a dedicated Ministry of Cooperation was indeed established in 2021. Statement (B) is generally accurate regarding the large number of cooperatives and members. Statement (D) is also in the correct range for the share of agricultural finance provided through cooperatives. Statement (C), however, is likely an overstatement. While PACS play a significant role in rural credit, their reach is not as extensive as 98% of all villages.