The bill seeks to amend the Multi-State Cooperative Societies Act, 2002.
It aims to improve governance, enhance transparency and accountability in the Multi-State Cooperative Societies. Under it, an election authority will be set up to ensure fair, free and timely elections.
The proposed amendments cover the major areas of operation and management.
Opposition leaders cutting across party lines opposed the introduction of the bill, saying that the proposed legislation was against the federal structure of the country.
Leader of the Congress in Lok Sabha, Adhir Ranjan Chowdhury while opposing the bill said the cooperative societies were state subjects and the Centre was encroaching on their turf.
He demanded that the Bill be sent to a standing committee.
Trinamool Congress MP Saugata Roy also echoed similar sentiments.
DMK's T.R. Baalu said the Bill should be referred to a standing committee.
Congress MP Manish Tewari said the Bill should be withdrawn. (IANS)