What is cooperative sector?

Answer 1

. COOPERATIVE SECTOR

Cooperation
The philosophy of co-operation endeavours to empower isolated individuals who are individually weak , to come together in a democratic manner on the basis of equality to achieve the desired common economic interests. The Co-operative Planning committee defined co-operation "as a form of organisation in which persons voluntarily associate together on a basis of equality for the promotion of their economic interests". The concept of co-operation emphasises on the collective action of individuals to achieve common goals which may not have been possible for one isolated individual. The principles of co-operation define the basic characteristics of any co-operative organisation. These principles form the common thread that run through all the co-operative societies which marginal variations.

India has a rich history of co-operative movement. The movement had drawn inspiration from similar endeavours throughout the world. 'Nidhis' were a pre-cursor to the Indian cooperatives. In this scheme, the members used to contribute monthly for a period. They were given loan facility which could be repaid in instalments. The co-operative movement has gone up from strength and today India has a strong movement catering to various sectors

he philosophy of co-operation endeavours to empower isolated individuals who are individually weak , to come together in a democratic manner on the basis of equality to achieve the desired common economic interests. The Co-operative Planning committee defined co-operation "as a form of organisation in which persons voluntarily associate together on a basis of equality for the promotion of their economic interests". The concept of co-operation emphasises on the collective action of individuals to achieve common goals which may not have been possible for one isolated individual. The principles of co-operation define the basic characteristics of any co-operative organisation. These principles form the common thread that run through all the co-operative societies which marginal variations.

• India has a rich history of co-operative movement. The movement had drawn inspiration from similar endeavours throughout the world. 'Nidhis' were a pre-cursor to the Indian cooperatives. In this scheme, the members used to contribute monthly for a period. They were given loan facility which could be repaid in instalments. The co-operative movement has gone up from strength and today India has a strong movement catering to various sectors