Title: Cooperative Societies PAN Data: A Game-Changer for Accurate GDP Measurement, Says Cooperation Secretary

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The Government of India is emphasizing the critical role of cooperative societies' Permanent Account Number (PAN) data in refining the country’s Gross Domestic Product (GDP) measurement. Cooperation Secretary Ashish Kumar Bhutani recently underscored this at a National Level Review Meeting in Shillong, highlighting that comprehensive data collection from all cooperative societies is essential to better represent their economic contribution in national statistics.

Why PAN Data of Cooperatives Matters for GDP Measurement

Cooperative societies form a significant part of India’s rural and semi-urban economic landscape, particularly in sectors like dairy, agriculture, and small-scale industries. However, due to fragmented and incomplete financial disclosures, their economic activities are often underrepresented in official GDP calculations.

• Accurate Inclusion: Collecting PAN data from every cooperative society enables the government to include their financial turnover and tax contributions more precisely in GDP statistics.
• Enhanced Economic Visibility: This data collection will improve transparency and help policymakers assess the true scale and impact of cooperatives on India’s economy.
• Policy Formulation: Better data leads to better-targeted policies for cooperative development, rural growth, and empowerment initiatives.

Secretary Bhutani emphasized that capturing this data is part of a broader commitment toward “Sahakar Se Samriddhi” — prosperity through cooperation — reflecting the government’s vision to leverage cooperative-led economic growth across states[1][2][3].

The Role of Cooperatives in India's Economic Growth

Cooperative societies have historically driven India's rural economy, especially in agriculture and allied sectors. The recent initiatives seek to capitalize on this by strengthening cooperatives’ infrastructure and integrating their output into mainstream economic metrics.

White Revolution 2.0: A Rural Development Catalyst

Bhutani highlighted the "White Revolution 2.0," an ambitious government initiative focusing on expanding the dairy sector. This initiative builds on the success stories of states like Gujarat and Maharashtra, where dairy cooperatives have empowered women and improved child nutrition through enhanced milk production and distribution networks.

• States including Assam, Jharkhand, and Uttar Pradesh are partnering with leading institutions like Amul and the National Dairy Development Board (NDDB) to bolster dairy infrastructure.
• The dairy sector's economic potential in animal husbandry is now outpacing traditional crop cultivation, marking a critical shift in rural income sources[1].

By integrating PAN data from dairy cooperatives, the government can more accurately quantify this sector's contribution to rural GDP, facilitating further investments and policy support.

Tribhuvan Sahkari University: Standardizing Cooperative Education

Another landmark development is the establishment of India's first Tribhuvan Sahkari University. This historic step aims to standardize cooperative education across various states, enhancing the professionalism and governance of over 250 cooperative institutions.

• This university will develop curricula tailored to cooperative management, governance, and sustainable economic practices.
• It aims to create a skilled workforce to manage and expand cooperative institutions efficiently, boosting their overall contribution to the economy[1].

The university is expected to play a pivotal role in nurturing leadership and technical skills necessary for the cooperative sector’s future growth.

The Broader Economic Context: India’s Growth Momentum

The push for accurate PAN data collection from cooperatives comes at a time when India's economy is demonstrating robust growth prospects.

• The Reserve Bank of India projects a real GDP growth of 7% for 2024-25, driven by rural demand and manufacturing momentum.
• The International Monetary Fund forecasts India’s growth at 6.8% in 2024-25, supported by strong domestic demand and a rising working-age population[5].
• Consumer confidence and improved employment prospects are bolstering economic optimism.
• Inflation is being managed within desired levels, enabling sustained growth while maintaining price stability.

In this context, incorporating cooperative societies’ accurate financial data will enhance national GDP measurement quality, providing a truer picture of economic health[5].

Impact on Policymaking and the Economy

Collecting PAN data from cooperatives will help policymakers:

• Identify growth areas within the cooperative sector.
• Design supportive policies for rural and small-scale industries.
• Track tax compliance and augment revenue collections.
• Empower women and disadvantaged groups through more transparent and efficient cooperative governance.

Key Takeaways

• PAN Data Collection: Essential for including cooperative societies' economic activities accurately in GDP calculations.
• White Revolution 2.0: Leveraging dairy cooperatives for rural development and women’s empowerment.
• Tribhuvan Sahkari University: Standardizing education to elevate cooperative management.
• Economic Growth Synergy: Aligning cooperative sector data with India’s overall economic growth and inflation management.
• Policy Benefits: Enhanced data-driven policymaking for rural prosperity and inclusive growth.

Conclusion

The call by Cooperation Secretary Ashish Kumar Bhutani to systematically collect PAN data from cooperative societies marks a vital step toward improving the accuracy and inclusivity of India’s GDP measurement. This initiative promises to unlock cooperative societies’ true economic potential, reinforcing their role in India's growth story and rural empowerment. Coupled with transformative initiatives like White Revolution 2.0 and the Tribhuvan Sahkari University, this approach sets the stage for a more prosperous, data-driven cooperative sector that significantly contributes to India's economic landscape.

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This progressive move aligns with the government’s commitment to fostering cooperative-led growth, enhancing rural livelihoods, and driving India's economy forward through transparent and inclusive economic policies.