Every village was encouraged to have at least one cooperative society. Cooperative societies in India expanded from agricultural market to the credit sector, and later to large scale sectors, housing, fisheries, banking, etc. This led to the formation of different types of cooperative societies in India. Based on the members and the kind of business, Cooperative societies in India are classified mainly as 6 types.
Unfortunately, this sector is economically weaker because of many causes, some of them being indebtedness of farmers, expensive equipment, agents or middlemen, etc.
The cooperatives which provide financial services to its members like deposits, short term loans, etc. These societies play an essential role in the development of medium and small enterprises in India.
These cooperatives are for producers like owners of fisheries, farmers, handicraft and local artisans, and many more such businesses. For obtaining household goods at an affordable price, the consumers for such cooperatives buy the goods in bulk to reduce the cost and sell them to its members and non-members also at lower prices.
Just like farming cooperatives support farmers for pre-farming requirements, marketing cooperatives support them for marketing or selling their produce. Housing is a big issue for the common man in cities and towns with skyrocketing prices of land.
In such a situation, people form cooperatives to buy the land, construct houses, and sell them to the members. To become a part of the cooperative, a member either has to buy a house or buy shares in the cooperative. Cooperative societies follow democratic principles of equality. It is made for mutual help in the first place. People who are not financially stable can become a part of these cooperatives and head towards a common goal.
Some characteristics of cooperative societies in India are stated below. A multi-state credit cooperative is the one having its members in more than one state. An act to regulate such multi-state cooperatives was passed in by the title of Multi-State Cooperative Society Act, History of Cooperative. Statistical Profile Success Stories of Cooperatives. History of the cooperative movement In the Rochdale Pioneers founded the modern Cooperative Movement in Lancashire, England, to provide an affordable alternative to poor-quality and adulterated food and provisions, using any surplus to benefit the community.
INDIA In India cooperation has its origin in the last quarter of 19th Century in attempts to provide relief to the farmers from the clutches of money lenders. The cooperative movement was introduced in India as a State policy and owes its inauguration to the enactment of the Cooperative Societies Act, In the pre-independence era the movement has passed through various stages of development and has seen ups and downs. The dawn of Independence in and the advent of planned economic development ushered in a new era for cooperatives.
Cooperation came to be considered as an instrument of planned economic development. According to the government, the ministry will work to streamline processes allowing cooperatives the ease of doing business while also enabling the development of multi-state cooperatives. Its creation is being viewed as a fulfilment of the promise made by Finance Minister Nirmala Sitharaman in the Union budget this year. In her budget address , she had said the Modi government was committed to developing multi-state cooperatives and would provide all support to them.
ThePrint explains the history of cooperatives and the role they have played in the economy of the country. According to the International Co-operative Alliance, cooperatives are people-centred enterprises owned, controlled and run by and for their members to realise their common economic, social, and cultural needs and aspirations. In India, a cooperative society can be formed under provisions of the Co-operative Societies Act, The provisions state that at least 10 people above 18 years, having the capacity to enter into a contract with common economic objectives, such as farming and weaving among others, can form a cooperative society.
As the legislation indicates, the history of cooperatives in India can be divided into two phases — the pre-Independence era and the post-Independence era. In , cooperation became a provincial subject and provinces were authorised to make their own cooperative laws under the Montague-Chelmsford Reforms.
In , the British government enacted the Multi-Unit Cooperative Societies Act , intended to cover such societies whose operations extended to more than one province. My outlook is to convulse India with the cooperative movement or rather with cooperation to make it, broadly speaking, the basic activity of India, in every village as well as elsewhere; and finally, indeed, to make the cooperative approach the common thinking of India.
Post Independence in , the National Development Council NDC recommended a national policy on cooperatives with the setting up of co-operative marketing societies.
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