Historical Perspective Of Co-operatives in Indian Context
The Co-operative Movement, which has an ultimate goal of strengthening the position of economically weaker sections, can make a real contribution towards the progress of national community. Over 96 yrs co-operative activity has been undertaken and since, it got a legal acceptance after the co-operative credit society act was passes in 1904.
The main objective was to combat indebtness and provide credit to the agriculturalist. With reference to the agro based of Indian economy the co-operative sector has played a substantial role in the process of lending a helping hand for economic upliftment.
With the passing of time, the co-operative act was amended, with a net result that co-operation, expanded its role, from a mere agriculture credit provider to helping, in other inputs, like seeds, fertilizers, pesticides, storage, marketing and processing. It also expanded into wholesaling and retailing trade, consumer distribution, rural and small-scale industries, urban credit, training of co-operative personnel etc.
The Co-operative Movement has left no sector of the economy untouched. But in spite of its existence, for almost a century, it has definitely not shown an outstanding growth. To study the growth and progress of co-operative movement we have to look back in the history.
The first legislation in the field of Co-operation in India was on the Co-operative Credit Society for releasing the farmers from the clutches of moneylenders. It was Co-operative Credit Societies Act 1904, thereafter came the Co-operative Societies Act 1912. In order to suit the circumstances existing in different provinces, need was felt to have separate legislation for the particular province .The Bombay province then enacted the Bombay Co-operative Societies Act 1925. It is then replaced by Maharashtra Co-operative Societies Act 1960 and Rules 1961.
admin on May 23rd, 2008 | File Under History Essay | No Comments -