Co-Operative

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Co-operative

A Co-operative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled enterprise. Co-operatives are based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity. In the tradition of their founders, co-operative members believe in the ethical values of honesty, openness, social responsibility and caring for others. Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors.

Economic growth and the increase in disposable incomes have played an important role in the growth of cooperatives in India. However, there are reasons on the micro level such as certain decisions, good execution, policies, and procedures, among others, which are the key reasons behind the success of cooperatives.

Co-operatives play a major role in India’s economy. With 98% coverage in rural India, cooperatives are the mainstay of rural economy ensuring sustainable livelihoods and income for people. Present in diverse sectors including agriculture, dairy, forestry, fisheries, credit and banking, housing and construction, cooperatives in India serve vast sections of society including farmers, women, youth, poor and the marginalized. Cooperatives have been a medium for democratic economic planning since India’s independence in 1947. The Indian cooperative movement is committed to addressing developmental issues and empowering the common man and woman in both the formal and informal economy.

General Information about Co-operatives in Uttarakhand

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