Rabindra Dhungel, 26 september 2020. The number of cooperatives established for the purpose of working in the productive sector has started increasing. The number of cooperatives registered to work in the agricultural sector has increased after the government gave priority to cooperatives in the manufacturing sector by strictly registering savings and credit cooperatives.
The government has also been providing cash subsidy to the cooperatives in the manufacturing sector. The Department of Cooperatives has stated that the registration of cooperatives has also started increasing after giving grants.
According to the Department of Cooperatives, the registration of cooperatives has increased with the objective of working in agricultural production including milk, vegetables and fruits, tea, coffee and beekeeping.
The government has started the program of giving subsidy to the cooperatives from the fiscal year 2065/06 to increase productivity through the cooperative sector. Last year alone, the department has distributed capital grant of Rs 1.5 crore to 4 dozen cooperatives.
Of the 32,600 cooperatives registered by the Department of Cooperatives in the last fiscal year, the number of agricultural cooperatives is 9,400. Adding the number of other thematic cooperatives in the agricultural sector including milk production, beekeeping, vegetables and fruits, tea, coffee etc., the number of productive cooperatives in the agricultural sector is more than 10,000.
Four years ago, the share of agricultural cooperatives was 20 percent. While the number of cooperatives was 26,500 till July 2018, the number of agricultural cooperatives was only 5,300. Since then, the number of cooperatives has increased by 6,000 and the registration of agricultural cooperatives has increased to more than 10,000.
Until three or four years ago, there were many registrations of savings and credit cooperatives. However, the turnover of productive cooperatives has also increased as the department has been tightening the registration and follow-up of savings loans after problems started appearing in the institutions dealing in savings and loans.