Suresh Prabhu, the chairman of the panel overseeing the committee responsible for drafting the new legislation announced that the committee is in the process of submitting a draft to the central government. Prabhu announced that the legislation is almost finalized and India can look forward to its release and implementation. The legislation will be an overhaul of the existing 2002 National Policy on Cooperatives Prime Minister Narendra Modi recently highlighted the importance of cooperatives in his speech on Independence Day.
