CHANDIGARH : Punjab Cooperation Minister Capt. Kanwaljit Singh while inaugurating the programme on financial and reporting and analysis for Directors and Senior Exevcutive of Cooperatives at KodaiKanal (TamilNadu) organized by VAMNICOM (Vakunth Mehta National Institute of Cooperative Managenment, PUNE), emphasized the necessity of professionalism in the cooperative in view of changed market scenario for providing improved delievery systems to public.

He inaugurated the conference in which the Directors and Senior Executives of Cooperative acroos the country participated. He laid emphasis on training of sharing experiences for further improving the efficiency of cooperatives. The market economy system prevailing at present was not suitable for developing countries especially for India where more than 50 percent of population was deprived of the basic necessities for survival. The system of market economy had many pitfalls and the cooperative, however can serve their members and the public in a better way but at the same time, the cooperative have to equip them to face the competition as they can’t enjoy the benefits of protective era prevailing earlier. They need to have introspection.
 
He said that cooperatives had to bring in efficiency by professionalism and result oriented managements to improve their delivery system by changing their mindset and have to become consumer friendly for their own survival and the benefit of public.
 
Capt. Kanwaljit Singh said that the corporate system has a strong lobby to impress upon their viewpoint and monopolise the benefits whereas the cooperatives suffer on account of this. The cooperative have therefore to bring in dedicated leadership for better management and also have to re look into the legal aspects of bringing in changes in the system for encouraging the experienced and dedicated leaders. The cooperatives have to develop a strong lobby for their survival and for the benefit of their members failing which the monopoly of corporate sector will exploit the consumers
 
He said that the rural indebtness has attained alarming magnitude due to the stagnation in agriculture production resulting in leaving the profession and are being forced to opt for other jobs. The cooperative credit structure in such a scenario has to undertake effective measures to provide cheap and adequate credit so as to wean away the farmers from the money lenders.
 
He said that the total dependence of credit Cooperative on NABARD, has adversely effected tha loaning programme especially long term cooperative credit Institutions. Credit Cooperative have to find out new avenues for financial resources for funding agriculture programmed at lower rate of interest, he added.
 
The Minister said that the debt waiver announced by the Government of India has benefited the defaulters and has rather penalized good pay masters. He said that the Punjab farmers who had been traditionally repaying loans on time, have not benefited from the scheme.Punjab farmers were expected to get only 1 percent from the entire package of 71000 crore rupees against 45 percent contribution to the food bowl of the country at the cost of loss of soil fertility and lowering of water table.