While the state Economic Survey is presenting a rosy picture about growth in industries, Maharashtra’s much-touted co-operative sector is in the doldrums.
About 24 per cent co-operative societies in the state are in loss, of which 21.8 per cent were in agricultural credit. Maharashtra has been a leading state in the co-operative movement, which has played a major role in employment generation and social integration. However, the economic survey says several co-operative banks and societies are in decline due to factors such as competition from multinationals, lack of professionalism and resource constraints.
The loans outstanding on these co-operative societies have also been rising. As against the loans of Rs 1,29,941 crore in 2013 and Rs 1,33,064 crore in 2014, the pending loan amount on them has reached Rs 1,48,489 crore in 2015.
According to the data from the survey, about 55.2 percent of Primary Agricultural Credit Societies, which provide short-term agricultural credits, are in loss. As many as 81.8 percent of the 131 co-operative spinning mills in the state are running in losses. About 63 per cent of the total 119 co-operative cotton ginning and pressing societies in the state are also in loss.
There are 46.6 per cent co-operative handloom and 55.9 per cent powerloom societies, which are facing loss. While the figures for sugar factories have not been given, the scene in the dairy sector is also bleak.
