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Consider the following statements regarding Cooperative societies in India.
1. Cooperatives are enterprises which are owned, controlled and run by its members.
2. The cooperative societies emerged only after Independence in India.
3. In India, majority of the cooperative societies are governed by laws in their respective states.
Which of the above statements is/are correct?
- a)1 only
- b)1, 2
- c)1, 3
- d)1, 2, 3
Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding Cooperative societies in I...
The government announced the formation of a separate Union Ministry of Cooperation, a subject that till date was looked after by the Ministry of Agriculture. Ministry of Cooperation will provide a separate administrative legal and policy framework for strengthening the cooperative movement in the country.
By definition, cooperatives are organisations formed at the grassroots level by people to harness the power of collective bargaining towards a common goal.
The history of cooperative societies dates back to the pre-Independence era, in response to the agrarian distress and overall indebtedness.
In agriculture, cooperative dairies, sugar mills, spinning mills etc are formed with the pooled resources of farmers who wish to process their produce. In banking and finance, cooperative institutions are spread across rural and urban areas. There are also cooperative marketing societies in rural areas and cooperative housing societies in urban areas.
Amul is a successful example of a dairy cooperative society.
Agriculture and cooperation are in the state list, which means state governments can govern them. A majority of the cooperative societies are governed by laws in their respective states.
Most Upvoted Answer
Consider the following statements regarding Cooperative societies in I...
Cooperative societies in India are an important part of the country's socio-economic fabric. They play a crucial role in promoting self-help, mutual assistance, and democratic decision-making among their members. Let's analyze the given statements regarding cooperative societies in India.
1. Cooperatives are enterprises which are owned, controlled and run by its members.
This statement is correct. Cooperative societies are voluntary associations of individuals who come together to meet their common economic, social, and cultural needs and aspirations. They are owned and controlled by their members, who actively participate in decision-making processes and share the benefits and risks of the cooperative enterprise. The principle of "one member, one vote" ensures democratic governance within cooperatives.
2. The cooperative societies emerged only after Independence in India.
This statement is incorrect. Cooperative societies in India have a long history that predates Independence. The cooperative movement in India began during the late 19th century with the establishment of agricultural credit cooperatives in various parts of the country. The Cooperative Credit Societies Act was enacted in 1904 to provide a legal framework for the functioning of such societies. Over time, the scope of cooperatives expanded to include various sectors such as agriculture, dairy, handloom, housing, consumer goods, etc.
3. In India, the majority of the cooperative societies are governed by laws in their respective states.
This statement is correct. Cooperative societies in India are primarily governed by state-specific laws and regulations. Each state has its own cooperative society act that provides the legal framework for the registration, functioning, and management of cooperatives. For example, the Maharashtra Cooperative Societies Act, 1960 governs cooperative societies in Maharashtra, while the Karnataka Cooperative Societies Act, 1959 governs cooperatives in Karnataka. These acts outline the rules and procedures related to membership, elections, board structure, audit, accounting, etc.
In conclusion, statement 1 and statement 3 are correct. Cooperative societies in India are indeed owned, controlled, and run by their members, and the majority of these societies are governed by laws specific to their respective states. However, statement 2 is incorrect as cooperative societies have a long history in India that predates Independence.
1. Cooperatives are enterprises which are owned, controlled and run by its members.
This statement is correct. Cooperative societies are voluntary associations of individuals who come together to meet their common economic, social, and cultural needs and aspirations. They are owned and controlled by their members, who actively participate in decision-making processes and share the benefits and risks of the cooperative enterprise. The principle of "one member, one vote" ensures democratic governance within cooperatives.
2. The cooperative societies emerged only after Independence in India.
This statement is incorrect. Cooperative societies in India have a long history that predates Independence. The cooperative movement in India began during the late 19th century with the establishment of agricultural credit cooperatives in various parts of the country. The Cooperative Credit Societies Act was enacted in 1904 to provide a legal framework for the functioning of such societies. Over time, the scope of cooperatives expanded to include various sectors such as agriculture, dairy, handloom, housing, consumer goods, etc.
3. In India, the majority of the cooperative societies are governed by laws in their respective states.
This statement is correct. Cooperative societies in India are primarily governed by state-specific laws and regulations. Each state has its own cooperative society act that provides the legal framework for the registration, functioning, and management of cooperatives. For example, the Maharashtra Cooperative Societies Act, 1960 governs cooperative societies in Maharashtra, while the Karnataka Cooperative Societies Act, 1959 governs cooperatives in Karnataka. These acts outline the rules and procedures related to membership, elections, board structure, audit, accounting, etc.
In conclusion, statement 1 and statement 3 are correct. Cooperative societies in India are indeed owned, controlled, and run by their members, and the majority of these societies are governed by laws specific to their respective states. However, statement 2 is incorrect as cooperative societies have a long history in India that predates Independence.
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Consider the following statements regarding Cooperative societies in India.1. Cooperatives are enterprises which are owned, controlled and run by its members.2. The cooperative societies emerged only after Independence in India.3. In India, majority of the cooperative societies are governed by laws in their respective states.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding Cooperative societies in India.1. Cooperatives are enterprises which are owned, controlled and run by its members.2. The cooperative societies emerged only after Independence in India.3. In India, majority of the cooperative societies are governed by laws in their respective states.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Cooperative societies in India.1. Cooperatives are enterprises which are owned, controlled and run by its members.2. The cooperative societies emerged only after Independence in India.3. In India, majority of the cooperative societies are governed by laws in their respective states.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Cooperative societies in India.1. Cooperatives are enterprises which are owned, controlled and run by its members.2. The cooperative societies emerged only after Independence in India.3. In India, majority of the cooperative societies are governed by laws in their respective states.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements regarding Cooperative societies in India.1. Cooperatives are enterprises which are owned, controlled and run by its members.2. The cooperative societies emerged only after Independence in India.3. In India, majority of the cooperative societies are governed by laws in their respective states.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Cooperative societies in India.1. Cooperatives are enterprises which are owned, controlled and run by its members.2. The cooperative societies emerged only after Independence in India.3. In India, majority of the cooperative societies are governed by laws in their respective states.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Cooperative societies in India.1. Cooperatives are enterprises which are owned, controlled and run by its members.2. The cooperative societies emerged only after Independence in India.3. In India, majority of the cooperative societies are governed by laws in their respective states.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements regarding Cooperative societies in India.1. Cooperatives are enterprises which are owned, controlled and run by its members.2. The cooperative societies emerged only after Independence in India.3. In India, majority of the cooperative societies are governed by laws in their respective states.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Current Affairs.
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