Question

Which Constitutional Amendment Act added cooperative societies in the constitution?
A. 91st
B. 93rd
C. 97th
D. 96th

Answer 1

Hint:Co-operative societies are free Association established by its own members voluntarily to help themselves economically, culturally and socially. Members of these societies are concerned for their community and participate economically.

Complete answer:
Whenever humans are organised for mutual benefits a cooperative society develops. Economically cooperative societies share risk and reward among members, that is the reason cooperative societies have longer life than other types of enterprise, and thus have a higher level of sustainability.
So the 97th Amendment Act 2011 added Co-operative to the constitution to encourage economic activities of cooperation which help progress in rural India. The words “cooperative societies” were added in Article 19(1) and thus, the right to form cooperative societies is a fundamental right. Act 43-B- new directive principle of State Policy(DPSP) on promotion of cooperative societies was added to part IV of Constitution. Government also provides financial assistance in the step of capital contribution to the cooperative societies for strengthening the share capital base, so they can run business and generate income for augmenting(increase in amount) the income. The Cooperative movement was introduced in India by the government to overcome the burden of debt of farmers and they can sell their product easily and get the maximum profit.

Hence the correct answer is option ‘C’.

Note:The members of all the cooperative societies did not have adequate safeguard. Also, elections were postponed indefinitely, so a need was felt to give cooperative society a constitutional protection.