Humanization: Explaining the Law of Cooperatives in India
International Cooperative Summit 2012, Quebec, Canada
37 Pages Posted: 20 Oct 2012
Date Written: October 19, 2012
This paper aims to present legal framework around cooperatives in India; its role in growth of cooperative movement, the later part of the chapter describes live examples of cooperative experiences in India and to show how this legal framework has helped the cooperatives in process of humanization.The Cooperative movement in India has its own status, role and impact in the socio-economic development of the country, especially for providing organizational and financial support to give impetus to income generating activities for weaker sections, such as small and marginal farmers, artisans, weavers, landless agriculture labors, fisherman and urban poor etc. Today there are more than half a million various types of cooperative societies with a membership exceeding 230 million with total working capital exceeding INR 3400 billion (USD 170 billion). Over the years, cooperatives have made concerted effort to improve the neglected and downtrodden sections of the society. The Indian society and economy particularly the rural sector is largely influenced by Cooperatives. More than 550,000 cooperatives are working in Urban & Rural area which are engaged in providing economic & social services to the poor masses through carrying out various types of activities.
Keywords: Cooperatives, Humanization, Indian Cooperative Law
JEL Classification: J54, Q1, K00
Suggested Citation: Suggested Citation