FDI in retail will open new avenues: CM
Chavan also said co-operative societies need to follow a strict economic discipline if they want to recover from their current financial crisis. “Allowing FDI in retail is UPA’s revolutionary decision. The FDI will open new doors of opportunities for a progressive state like Maharashtra. But co-operative societies will have to compete with private and multi-brand players and they should ready themselves for it,” said Chavan.
He also said there was a need to amend the State Co-operative Act to ensure compliance with the 97th Constitution (Amendment) Act. “To amend this Act, I have set up an eight-member committee headed by Co-operatives Minister Harshavardhan Patil which will study every aspect of the Act before proposing the amendments,” said Chavan.
Chavan also said the state will soon come up with a vision document which will be debated in the next session of the state legislature and will be implemented thereafter.
While pointing out that several co-operative organisations in the state were not doing financially well, he said to improve the condition it was important that the organisations maintain a high standard of financial discipline.
“In 2009-10, there were 123 co-operative sugar factories in the state. In the last two years, as many as 23 co-operative mills have been sold to