Question

Economic upliftment and growth of members take place under co-operative societies. Give reason.

Answer 1

Economic upliftment and growth of members:

• Co-operative societies play a significant role in the growth of its members. For example, consumers’ co-operative societies supply day-to-day consumable products like milk, grains, etc. of good quality at fair prices and prevent economic exploitation of customer by the middleman.
• Similarly, producer’s co-operative societies supply raw materials, equipment, tools, etc. at fair prices to the members.
• Small producers can sell their produce easily to these societies and attain economic growth.
• Co-operative societies have achieved much progress in sugar, milk, leather, and cotton industries.