CAs can drive grassroots change in how co-ops manage their finances—Union minister Bhupender Yadav
New Delhi, January 12, 2026
At Cooperative Chintan Shivir in Delhi, Yadav stressed on financial and digital literacy, calling upon Institute of Chartered Accountants of India to take lead at grassroot level.
Chartered accountants can play a critical role in strengthening India’s vast cooperative sector by ensuring faster audits, robust internal controls and modernising accounting systems, Union Minister for Environment, Forest and Climate Change Bhupender Yadav said on Monday.
“Chartered accounts can help run a cooperative society in a professional manner by boosting their internal controls and strengthening their knowledge of technology,” he added, pointing to the increasing relevance of digital tools and compliance mechanisms in the sector.
The minister was speaking at the Cooperative Chintan Shivir on ‘Transforming India’s Economic Future with Expanding Role of CAs’ organised by the Institute of Chartered Accountants of India (ICAI) at Taj Palace, Delhi. The minister attended the event in place of Union Home and Cooperation Minister Amit Shah, who cancelled his appearance due to prior commitments.
Yadav placed particular emphasis on financial and digital literacy, calling upon ICAI to take the lead at the grassroots level. He described the apex accounting body as a potential “driver for change” that could empower cooperative members to better manage their finances and participate more effectively in the formal economy.
“When you give digital literacy to all of them, then you will not only give them an opportunity to maintain their balance sheet, but you will also give them the opportunity to manage India’s future,” Yadav said.
The ICAI, in collaboration with the Ministry of Cooperation, has already begun expanding its engagement with the sector. The body has constituted an expert committee to study cooperative laws and identify challenges facing the sector. It has also launched a certification course to train chartered accountants in cooperative regulations, while conducting virtual discussions and webinars on cooperative governance for its members.
Addressing an audience dominated by chartered accountants, Yadav also credited Amit Shah for pushing structural reforms in the cooperative sector and enhancing its role in India’s economic growth.
Highlighting the sheer scale of the sector, the minister said that around 32 crore people—nearly one-fourth of India’s population—are associated with about 8.5 lakh cooperative organisations across the country.
He noted that cooperatives are no longer confined to traditional sectors such as milk production and agriculture.
“Today, cooperatives are not only limited to milk and farming, it is expanding to other businesses like Bharat Taxi and petrol pumps. The multi-Purpose cooperative societies are undertaking more than 32 different types of services,” Yadav said.
Taking a political swipe, the minister also targeted the Congress, accusing it of mismanaging cooperatives during its time in power. “The way Congress party ran cooperatives during their administration, led the Prime Minister to create a new Ministry for cooperatives,” Yadav said.
Several senior figures from the government were present at the event, including Minister of State for Cooperation Krishan Pal Gurjar, former Union minister Suresh Prabhu, who headed the committee that framed the National Cooperative Policy 2025, and ICAI President Charanjot Singh Nanda.
In his opening remarks, Nanda highlighted the scale and responsibility of the accounting profession, noting that 5.28 lakhs chartered accountants and 12 lakhs students are working towards building a Viksit Bharat. “Chartered accountants are financial soldiers of the country,” he said.
Former Union Minister Suresh Prabhu, in his address, thanked Prime Minister Narendra Modi for assigning the cooperation portfolio to Amit Shah, crediting him for giving the sector renewed focus and direction. According to Prabhu, the cooperation ministry is working to ensure that cooperatives span every dimension of socio-economic activity in the country.
“Cooperative sector contribution towards India’s GDP will rise by four times in coming years. It will be a key driver of the country’s economic growth in the next 10 to 15 years,” Prabhu said, projecting a significant expansion of the sector’s economic footprint.
[The Print]
