October 29, 2009 8:10 PM

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Law for Cooperative Societies: Cabinet clears proposal for Constitution amendment

The Union Cabinet today approved a proposal to amend Constitution to provide legal backing to the cooperative societies across the country. A new chapter will be added to the constitution for the purpose on the lines of Panchayat and municipalities. A bill to this effect will be introduced in the winter session of Parliament. Briefing reporters after the Cabinet meeting, the Union Home Minister, Mr. P. Chidambaram said the law will provide a framework for the functioning of cooperative societies . He also said, that the bill will make it an obligation for the states to promote democratic functioning of the co-operative institutions. Giving details, he said that the office bearers of the cooperatives will have a fixed five years and the election to these institutions will be conducted by an independent authority after regular intervals.<br/><br/> <br/><br/> Mr. Chidambaram announced that the Cabinet enhanced the honorarium for national research professors from 25, 000 rupees to 75,000 rupees per month besides the contingency from 50 thousand to one lakh rupees per annum. Apart from this, those retired will get an enhanced pension of 25 thousand rupees from the present 9 thousand rupees. The cabinet also approved appointment of an advisor to the Minister of Law and Justice in the rank of Secretary to the Government.

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