10% of Total Cooperatives in Gujarat Non-Functional, 18,404 Societies Operating at Loss: Report

New Delhi: Around 23% cooperative societies in Gujarat are operating at a loss, while 10% of the total cooperatives in the state are non-functional, data furnished by the Union government in the Rajya Sabha has revealed, reported New Indian Express.

According to the data, while there are 88,119 registered cooperative societies in Gujarat, 6,959 have become non-functional, while another 1,341 are under liquidation. At present 18,404 societies are operating at a loss, the data presented by the Ministry of Cooperation in the Rajya Sabha has revealed.

Gujarat has the country’s second-largest cooperative ecosystem after Maharashtra’s 2.27 lakh societies.

While 56,977 cooperative societies in Gujarat are presently profit making, financial information is unavailable for another 4,442 societies, indicates the data.

While Gujarat performs better than several states in terms of the proportion of operational societies, the existence of thousands of dormant cooperatives indicates continuous governance, management and financial challenges.

The data reveals that across India, there are 8.53 lakh cooperative societies, of which 6.63 lakh are functional, 1.41 lakh are non-functional, and 49,177 are under liquidation, reported New Indian Express.

Among the societies which are functional, 3.56 lakh are profit-making, 2.50 lakh are loss-making, while financial data is unavailable for 56,689 societies.

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