Cooperative life insurance plan and Bharat Taxi expansion outlined by Amit Shah in India

Union Minister Amit Shah announced plans for a cooperative life insurance company on Monday. Shah also said Bharat Taxi services would reach 500 cities within two years. Shah spoke at an event in the national capital. The programme marked the fifth Foundation Day of the Ministry of Cooperation. Shah linked these steps to widening cooperative business areas.

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Shah said India has about 8.5 lakh cooperatives with over 30 crore members. Shah stated the ministry has backed reforms to modernise the sector. Shah said the aim was a system that is transparent and technology-enabled. Shah also described the cooperative movement as neglected during the Congress regime. Shah said the ministry gave the movement a fresh lifeline.

Cooperative sector: Bharat Taxi expansion and life insurance plan

Shah said the cooperative ride-hailing platform Bharat Taxi was performing well. Shah said its footprint would expand into 500 cities in two years. On similar lines, Shah said: "We will be setting up a life insurance company in the cooperative sector. This will help in the growth of cooperatives in the insurance sector.\" Shah noted IFFCO-TOKIO already operates in insurance.

Shah said India has 26 life insurance companies at present. Bharat Taxi runs under Sahakar Taxi Cooperative Ltd. It is a driver-centric mobility platform using a cooperative model. Bharat Taxi has 6.37 lakh registered drivers and 35.77 lakh registered customers. Shah linked the service to new cooperative business areas beyond older sectors.

According to an official statement, Bharat Taxi operates in Delhi-NCR, Gujarat, Lucknow, Chandigarh, Mumbai, Jaipur, and Kanpur. The statement said it will soon launch in Ranchi, Patna, Guwahati, Bhopal, Kolkata, Indore, and Nagpur. The statement added this rollout would happen in the next few months. Shah presented the expansion as part of wider cooperative growth.

Cooperative sector reforms: PACS expansion and national cooperatives

Shah said cooperatives were moving into many new sectors beyond dairy and sugar. Shah also cited fertiliser and banking as traditional areas. Shah said cooperatives handle nearly 20 per cent of agricultural credit. Shah added they manage 35 per cent of fertiliser distribution. Shah also said cooperatives account for 31 per cent of sugar production.

Shah said model bye-laws now allow PACS to take up 25-plus activities. Shah said all states adopted these bye-laws, including West Bengal. According to the statement, PACS now do more than provide credit. The statement said PACS cover retail, storage, healthcare, fuel, and digital services. Shah presented this as a move towards stronger local institutions.

According to the statement, 394 PACS applied for retail fuel outlets. The statement said three outlets have been commissioned. The statement also said more than 54,000 PACS now function as Common Service Centres. It added that 4,248 PACS are approved for Jan Aushadhi Kendras. Shah said these steps aimed to widen services for members.

Shah said a national cooperative was formed for seed production. Shah said it was set up especially for this purpose. Shah expressed confidence it will become the country’s largest non-governmental seed production organisation in three years. Shah placed this alongside other national efforts to scale cooperative work. Shah also said the ministry mapped sector issues and opportunities.

Cooperative sector governance: database, university, and appointments

Shah said the ministry created a cooperative sector database. Shah said it would help spot gaps and support expansion. Shah also announced Tribhuvan Sahkari University at Anand in Gujarat. Shah said it would address a human resource shortage. Shah said it would train professionals across banking, dairy, marketing, agriculture, and fertilisers.

Shah said professionals would be appointed on merit. Shah said: \"Our goal is to implement professional management in a phased manner from primary cooperative societies to top institutions. This will increase transparency in appointments, improve work efficiency, and also put an effective check on corruption related to appointments, Shah said.\" Shah also said removing corruption would build public trust.

Cooperative sector performance: law changes, credit growth, and banking data

Shah said 50 key amendments were made to the Multi-State Cooperative Societies Act, 2002. Shah said the changes made the system more transparent and democratic. Shah said nine national-level cooperative societies have been formed. Shah added that three of these are new. Shah also said the flow of credit in the cooperative sector increased.

Shah said Urban Cooperative Banks and District Cooperative Banks were progressing steadily. Shah said District Cooperative Banks’ total business crossed Rs 25 lakh crore. Shah said this rose from Rs 19.6 lakh crore earlier. Shah also said Urban Cooperative Banks’ net profit almost doubled. Shah added gross NPA fell from 12.8 per cent to 6.2 per cent.

Cooperative sector and farming: organic push, circular economy, and DAP

Shah emphasised organic farming and lower use of chemical fertilisers. Shah said: \"We are bringing 100 per cent circular economy in the sugar and dairy sectors.\" Shah said manure would be produced as an alternative to DAP. Shah said the manure would be cheaper than DAP and better in quality. Shah appealed to farmers to give up DAP DI-ammonium phosphate.

Shah said the cooperative sector could support Viksit Bharat by 2047. Shah said reforms and new ventures were meant to improve credibility and capacity. Shah also said the ministry’s work focused on transparency and democratic functioning. During the event, Shah laid the foundation stone and inaugurated several major projects and initiatives. Shah presented these as part of a wider cooperative push.

With inputs from PTI