Cooperatives in India: Challenges and Solutions

Significance

  • Ease in Setting Up: A cooperative society can be established without many formalities by any 10 members who have obtained the majority.
  • Encourage Equality and Openness: A democratic society is built on the idea of "one man, one vote." Each member has an equal say in how the internal affairs are run. These societies distribute their surpluses equally among their members.
  • Limited Liability: In a cooperative society, a member's liability is limited to the amount of their capital contribution.
  • Cut out Middlemen: Consumer cooperative societies were created to ensure a constant supply of necessities. These organisations buy goods directly from manufacturers ....
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