Goa’s co-op sector needs booster dose, community participation (EDITORIAL)
The world observes July 5 as the International Day of Cooperatives. The year 2025 has been declared by the United Nations as the International Year of Cooperatives, highlighting the vital role cooperatives play in sustainable development. Across the globe communities will celebrate the spirit of cooperatives under the theme: Cooperatives – Driving Inclusive and Sustainable Solutions for a Better World.
Goa too will join the global celebration. Minister for Cooperation Subhash Shirodkar said that the state government will celebrate Cooperation Foundation Day on July 6 at Ponda and observe the International Year of Cooperatives 2025 across the state.
The cooperative sector in Goa has grown since the early 1960s. The cooperative movement was launched in 1962 with the aim of uplifting the downtrodden and weaker sections of society. It soon expanded into sectors such as agriculture, dairy farming, consumer services, credit, housing and others. To address the needs of various cooperative societies and ensure their regulation, the state government established the Department of Cooperation in 1962. Initially, Goa adopted the Maharashtra State Cooperative Societies Act, 1960, and the Rules, 1962, for registration and control of cooperative societies. Later, the state enacted its own law – the Goa Cooperative Societies Act, 2001, and the Rules, 2003.
The primary objective of the department is to ensure that cooperative societies are established and managed based on cooperative principles to promote the economic interests and welfare of the people.
The Minister said the sector recorded an annual turnover of Rs 13,500 crore. There are over 5,500 primary cooperative societies in the state, around 2,500 of which are credit cooperative societies. Others include agricultural credit societies, housing societies and milk cooperative societies. Housing societies require streamlining, and the procedure for redeveloping old buildings needs to be reviewed.
Some cooperative societies, classified as multi-state multi-purpose cooperative societies, are regulated by the Central Cooperative Registrar in New Delhi and not by the Goa government. Some of these societies engage in unrelated business activities. As they are labelled “multi-state”, the Goa government often remains unaware of their operations. Many investors are attracted to such entities due to tempting offers made by them, though these come with certain risks. The government must introduce mechanisms to protect the interests of investors in cooperative societies and banks. Depositors in two cooperative banks have suffered after the RBI cancelled their licences. The department may require additional staff to monitor the functioning of cooperative societies and take corrective action to safeguard the interests of depositors. Some societies have been involved in malpractices. The Minister stated that investigations into three cooperative societies accused of duping depositors will be completed within six to eight months.
In line with the UN theme, Shirodkar said that new societies will be encouraged to create opportunities for youth and women. The cooperative sector needs further strengthening in the state. While challenges persist, societies must show resilience to withstand competition. The government must do more to ensure that the public continues to have faith in cooperative societies.
Community leaders and NGOs also have a role in strengthening the cooperative sector. Cooperatives support the entrepreneurial ecosystem. The government must introduce new initiatives to promote cooperatives, especially in agriculture and dairy farming, to help achieve the goal of Swayampurna Goem.
