India, Jan. 13 -- The country's cooperative sector helps not only in economic growth but also in democratic empowerment, Union minister Bhupender Yadav said on Monday.Highlighting the importance of financial literacy and data-based governance, he also said that the cooperatives sector can play a major role in making India a developed country.

Yadav, who is in charge of the Ministry of Environment, Forest and Climate Change, also emphasised the need for faster audits of cooperative organisations as well as boost their internal controls. According to him, the cooperative sector helps in economic growth and in democratic empowerment.

The Government has democratised the cooperative sector, bringing benefits at the grassroot level, he said a...