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According to the Rajasthan Cooperative Societies Act, 2001, Member Economic Participation is defined under which Co-operative Principles?

According to the Rajasthan Cooperative Societies Act, 2001, Member Economic Participation is defined under which Co-operative Principles? Correct Answer 3rd Principle

The correct answer is  3rd Principle.

Key Points

  • The co-operative principles are guidelines by which co-operatives put their values into practice.
  • Member Economic Participation is defined under the 3rd Principle.
  • According to the 3rd Principle:-
    • Members contribute to, and democratically control, the capital of their co-operative. At least part of that capital is usually the common property of the cooperative.
    • Members usually receive limited compensation, if any, on capital subscribed to as a condition of membership. Members allocate surpluses for any of the following purposes:-
      • Developing their co-operative, possibly by setting up reserves, part of which at least would be indivisible, benefiting members in proportion to their transactions with the co-operative, and supporting other activities approved by the membership.


Additional Information

  • There are total 6 Co-operative Principles:-
    • 1st Principle:-  Voluntary and Open Membership 
    • 2nd Principle:- Democratic Member Control
    • 3rd Principle:- Member Economic Participation 
    • 4th Principle:- Autonomy and Independence
    • 5th Principle:-  Education, Training, and Information
    • 6th Principle:-  Co-operation among Co-operatives

Related Questions

Which of the following is/are the important variants of a cooperative farming society? I-Cooperative Joint Farming Society II-Cooperative Better Farming Society III-Cooperative Tenant Farming Society IV-Cooperative Collective Farming Society
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Participation in Development means:
1. It is bottom up participation in the sense that the local people have full control over the processes and the project provides for necessary flexibility
2. It is more prevalent with NGOs then with the governments
3. It entails genuine efforts to enage in practices which openly and radically encourage people's participation
4. It is top-down participation
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