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It is expected that these provisions will not only ensure the autonomous and democratic functioning of cooperatives, but enhance the public faith in these institutions and also ensure the accountability of management to the Members and other stakeholders and also provide for deterrence for violation of the provisions of the law.

The Bills seeks to achieve these objects.

  MR. CHAIRMAN: Motion moved:

“That the Bill further to amend the Constitution of India, be taken into consideration.”   SHRI ANTO ANTONY (PATHANAMATHITTA): Thank You Sir. I take this opportunity to share the concerns of the crores of people in the country who will suffer by the implementation of certain clauses with regard to the 111th Amendment of the Constitution of India. Cooperative sector is the backbone of the agrarian economy of the country. An overwhelming majority of the Cooperative Societies is functioning in the rural sector and primarily they deal with agricultural credits.  Therefore, any legislation which has adverse impact on Cooperative Societies will virtually devastate the rural sector and the agrarian economy of the country. Hence, I would request the Government to consider the following suggestions to the 111th Amendment of the Constitution of India.