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Thursday, September 1, 2011

Cabinet clears proposal to allow Cooperative societies undertake works worth up to Rs. 2 crores

GANGTOK, 30 Aug: Women and youth based cooperative societies in the state have been awarded a huge leg up by the State government with the recent decision to enhance the value of works to be awarded to them.
The enhancement in the value of works for such cooperative societies is to the tune of 1.50 crores. Earlier, cooperative societies of educated unemployed youth and women were allowed to undertake works of up to Rs. 50 lakh. A recent decision by the state government has enhanced this to Rs. 2 crore. This enhancement will also apply to cooperative societies of registered contractor in the gram panchayat ward level.
The state government has also enhanced the value of works to be awarded to Labour and Construction cooperative societies by Rs. 80 lakh from the earlier Rs. 20 lakh to Rs. 1 crore now.
For cooperative societies registered within municipalities and nagar panchayats, the value of works which can be awarded to them has been enhanced from Rs. 50 lakh to Rs. 2 crore as well.

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