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Which of the following statement/s is/are not correct? (a) Rural Co-operative societies provide agricultural products with loans. (b) India becomes the world's largest milk producing country due to rural co-operative societies. (c) The purpose of rural Co-operative societies is only economic development.

Which of the following statement/s is/are not correct? (a) Rural Co-operative societies provide agricultural products with loans. (b) India becomes the world's largest milk producing country due to rural co-operative societies. (c) The purpose of rural Co-operative societies is only economic development. Correct Answer Only (c)

The correct answer is Only (c).

Key Points

  • The central motive of rural co-operative societies is to serve the needs of underprivileged and rural sections of the community.
    • Rural 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.
    • An essential role of co-operative society’s contribution lies in the advancement of villages.
  • The co-operative societies cover about 95% of villages in India, hence sharing a crucial part in enlarging the overall economy.
  • Rural co-operative societies provide short and medium-term loans to promote savings habits among members to supply agricultural inputs like fertilizers, seeds, insecticides, and implements.
  • About 37 million liters per day of liquid milk are sold and this milk is provided by the cooperatives.
    • These cooperatives cover almost about 15 states through new Farmer Producer Companies (FPC).
  • It is easier to understand the concept of the cooperative by knowing its specific objectives. It can be summed as follows:
    • Aim to provide goods and services.
    • Aim to eliminate the unnecessary profits of middlemen in trade and commerce.
    • Seek to prevent the exploitation of the weaker members of society.
    • Aim to protect the rights of people both as producers and consumers.
    • Promote mutual understanding and education among their members and people in general.

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