Tripura to work setting up cooperative system

Tripura is set to take a giant leap in its cooperative movement with the state government promising to set up at least 3 lakh cooperatives over the next five years.  Old cooperatives would get a new lease of life through fresh fund infusion, Chief Minister Manik Saha has said.

The plan was to set up more multipurpose cooperative societies, the chief minister said, as government jobs were difficult to come by. Large area multipurpose societies (LAMPS) and primary agricultural credit societies (PACS) should be out on the frontlines of employment generation, he said, especially for women.

The creation of cooperatives has been an essential part of the growth story of the Northeast given its rural, agrarian economy, with handloom being an integral part of the ecosystem. Funding and financial management though have been the constraining factors in the effort to put in place a robust cooperative system in the region, something that Tripura is now set to try and reverse.