Budget: Co-operators hail Administrative Structure; disapprove SFB move

The Cooperative sector has offered mixed reactions to the budgetary announcements made by the Union Finance Minister on Monday. While some cooperators have lauded the idea of setting up a separate Administrative Structure for multi-state co-ops, others would like to get included into the discussions before it takes shape.
While a few have welcomed the govt move on giving sops for converting into small finance banks, majority have not liked the budgetary announcement on the issue and alleged that it is an attempt to destroy a 100 years old co-op movement in the country.
Most of the co-operators have, however, welcomed the FM announcement of strengthening multi-state co-ops but have asked in the same breath about its actual shape.

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