Cooperative Societies in India

Q 1. What are cooperative societies in India?

Answer-

A cooperative society is an independent group of people who have come together voluntarily to address their common economic, social, and cultural needs and goals through a jointly owned and democratically controlled enterprise.

Q 2. How many cooperative societies are there in India?

Answer-

In India, approximately 8 lakh cooperative societies are officially recognised, the majority of which are in the agricultural, banking, and housing industries.

Q 3. What are the factors contributing to the success of food security?

Answer-

Strategic planning, member’s participation, human capital, structural and relational capital are among the identified factors.

Q 4. What Is the most important responsibility of cooperatives?

Answer-

The most important responsibility of the cooperatives is to optimize their economic, social and cultural needs by the members.

Q 5. What are some of the main impacts of cooperatives on the economy?

Answer-

Facilitating job creation, economic growth and social development.

Q 6. How can cooperatives help reduce poverty?

Answer-

Cooperatives help their members and the society at large, access to household supplies like clothing, food and other products.

Q 7. Which section of society is more prone to food insecurity?

Answer-

Scheduled caste and scheduled tribes are the section of society, who have either less land or very low land productivity. Some of the insecure people who are affected by natural disasters migrated to other areas in search of work.

A cooperative society is an organization owned and run by the people using its goods and services. They are a worldwide phenomenon with various definitions and diverse structures. They are an association of users or small firms, or sometimes households, aiming to serve the community as a whole. 

They aim for the replacement of capitalism with cooperation, are non-discriminatory, prioritize discussions, and follow the ideals of self-help and mutual understanding.