Define cooperatives. Critically analyze the role of cooperatives in building a self-reliant India.
Answer: Co-operative is a voluntary association of individuals having common needs who come together for fulfillment of common economic interest. It is based on the principle of autonomy, voluntariness, open membership, cooperation and democratic member control.
Cooperatives help in building a self-reliant India as -
- Generates employment
- Builds social cohesion
- Strengthens democratic spirit
- Builds local expertise
- Fosters gender equality
- Reduces poverty and inequality
However cooperatives are shackled by following challenges:
1. Political
- Government interference as Government being major source of finances for the cooperatives has the power to regulate its functioning.
- Cooperatives being dominated by locally powerful members of the society, with strong ....
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