What is the role of co-operative society in rural development?

Co-operative society in rural areas follows the principle of mutual help and self-help to attain the objective of rural development. It is like a non-profit organization where every member joins a co-operative society to provide support instead of earning profits.

What are the importance of cooperative societies?

IMPORTANCE OF A COOPERATIVE SOCIETY Cooperatives help to distribute, improve and multiply local expertise, resources and capital. Autonomous cooperatives reach most of the poorest people in the community, they offer them basic infrastructure and growth, ignored by other large businesses.

What is the importance of cooperative in our economic development?

With regard to economic and social development, cooperatives promote the “fullest participation of all people” and facilitate a more equitable distribution of the benefits of globalization. They contribute to sustainable human development and have an important role to play in combating social exclusion.

What are the importance of cooperative society in the economic development of Nigeria?

In Nigeria, cooperatives can provide locally needed services, employment, circulate money locally and contribute to a sense of community or social cohesion.

What are the important elements of co operation describe its role in the development of a state?

In other words a cooperative is a business organization that is owned by those who use its services, the control of which rests equally with all the members. It is voluntary and democratic and the moral element is as important as the material one. Furthermore, it recognizes social, educational, and community values.

What are the importance of cooperative in the Philippines?

2.3 Particular Roles of Cooperatives. Under Philippine Development Plan (2011-2016), Cooperatives are expected to provide a significant contribution in the objectives of creating a) rapid, inclusive and sustained economic growth, b) financial inclusion, and c) reduction of poverty.

What is the importance of cooperative societies in Indian economy?

Cooperatives play a major role in India’s economy. With 98\% coverage in rural India, cooperatives are the mainstay of rural economy ensuring sustainable livelihoods and income for people.

What is the importance of cooperative societies in rural development?

Cooperatives have proved to be very important in the economic development of societies in rural development. Cooperatives encourage capital formation and investments in different sectors. People can get loans from there to start business enterprises. They also help in poverty alleviation and employment generation.

What is the role of Co-operative Society?

Co-operative is a vital issue in every community in this world. Place where it has been properly put into effective operation, its members have greatly achieve something from it. Idah Local Government area is one of the areas where co-operative societies have improved the live of its citizens.

What are the different types of cooperative societies that exist?

In our rural communities, there are different types of cooperative societies that exist depending on the needs of the members and the bye- low that guide such societies some of these societies are: (1) FARMERS COOPERATIVE SOCIETY: This form of cooperative involves the cultivation land by rural farmers and farming is together as price.

When did co-operative societies start in Nigeria?

Co-operative societies as a form or type of business organization comes about when people with common, interest unit themselves into a group, financial and controlled by them for the purpose of achieving their goals. We believe from many others, that co-operative societies started in Nigeria in the early 20th Century.