Describe the rate of contribution to education fund for cooperative societies role
Answers
India is mainly an agrarian society with more than half of its population still residing in the villages. Rural sector is the major contributor to the overall GDP of the nation and hence lack of development in villages means lack of development in India. Cooperative societies are playing significant role in this and share a major credit in the growth of rural sector which along with government and private sectors contribute to the overall economy of India. Cooperatives cover more than 97%of Indian villages, some run by its members and some by the government
Needs of rural people are served by different forms of private and government organizations including partnership firms, co-operatives, companies and charitable trust. Government each year spends lakhs to crores of rupees on rural development. But co-operatives working in rural areas are playing noteworthy role in this.