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:

Focus on the facts and numbers related to government initiatives and sectors.
The Ministry of Cooperation is a recent development, so it is likely to be asked in exams.

Answer 1

The Correct Option is A

Step 1: Understanding the Concept:
The cooperative sector in India has been revitalized with the vision of "Sahakar-Se-Samriddhi" (Prosperity through Cooperation).
The question tests knowledge of facts related to the cooperative sector.

Step 2: Key Approach:
Identify which statements are true about the cooperative sector in India.

Step 3: Detailed Explanation:
(A) A full-fledged Ministry of Cooperation was established in July 2021. This is true.
(B) There are 8.5 lakh registered cooperatives with over 29 crore members. This is true.
(C) PACS cover 98 per cent of villages. This is true.
(D) Currently, around 29 per cent of agriculture finance is through cooperative societies. This is false.
The correct figure is around 15-20 per cent; commercial banks and RRBs dominate agricultural credit.
Thus, (A), (B) and (C) are correct, and (D) is incorrect.
The cooperative sector has a wide reach but needs strengthening to enhance its financial contribution.