The government proposes to reduce the minimum alternative tax (MAT) for cooperative societies from current 18.5 per cent to 15 per cent at par with private companies, Finance Minister Nirmala Sitharaman said on Tuesday. Presenting the Budget 2022-23 in the Lok Sabha, she said the government has also proposed to reduce the surcharge on cooperative societies from the present 12 per cent to 7 per cent for those having total income of more than Rs 1 crore up to Rs 10 crore.