Co-operative movement in planned economy: A study in Indian perspective

The cooperative sector is one of the main partners of economy; the cooperatives have more reach to the rural India, through their huge network of credit societies in the institutional credit structure. The cooperative sector has plays a key role in the economy of the nation. The cooperative covers almost cent percent villages. The place of cooperatives in Indian economy and its role in social and economic affairs has developed a new dimension with the beginning of the planning. The cooperatives, which are the life, blood of the economy and the mechanism for any development programs. The cooperative credit structure is serving the Indian society since 1904 and since then it has seen several ups and downs. Since independence, the cooperative movement has recorded substantial progress. The emerging need of the economy in the new competitive and deregulated financial environment, cooperative institutions have re-oriented their policies by drawing up their prospective mission and strategy to make them globally competitive. This paper attempts to analyze the development of cooperative movement in planned economy. Empirical result shows development of cooperative movement in five-year plan highly impressive.