Cooperative and its economic importance exercise class 10

 Unit-8 Lesson-5

Cooperative and its economic importance

A.  Very short answer questions

1.  What is cooperative?

Ans:- cooperative means working together and sharing benefits together.

2.  Name the first cooperative of the Nepal.
Ans:- Bakhan cooperative established in  2013 BS in Chitwan was the first cooperative of Nepal.

 

B.  Short answer questions.

1.  Mention the principle of cooperative.

Ans:- The principle of cooperative are listed below:

i)  Voluntary and open membership.

ii)  Democratic member control.

iii)  Member economic participation.

iv)  Autonomy and independence.

v)  Education training and information.

vi)  Cooperation among cooperative.

vii)  Concern of community.

 

2.  State the condition to be fulfilled for the establishment of cooperative?

Ans:- The conditions to be fulfilled the establishment of comparative listed below:

i)  At least 25 persons are its member.

ii)  An application to the register for the registration.

iii)  Two copies of bye- law and work plan.

iv)  Description of shares which the members have under taken to subscribe.

v)  Citizenship, photograph and signatures of members.

 

Discuss the importance of cooperative in Nepal.

Ans:- The importance of cooperative in Nepal is listed below:

i)  It plays a great role to strength then the economic system of the country.

ii)  It teaches the farmers to be economical.

iii)  It develops production oriented attitude in the rural society.

iv)  It helps in poverty alleviation by raising the living standard of local people.

v)  Multi-purpose cooperative provide loan facilities, market facilities etc. to the farmers and improve in rural life.

 

4.  Explain the evolution of cooperative in Nepal?

Ans:- The concept of cooperative was in practice from the very beginning in different from like Guthi, Parma, Dhukuti, Dharma Bhakari, Manka Khala, Kulayan, Dewali, Bheja etc. The establishment of department of cooperative in 2010 was formally began the cooperative system in Nepal. Bakhan cooperative established in 2013 BS in Chitwan was the first cooperative of Nepal.In 2016 BS, cooperative act 2016 was enforced which institutionalize the cooperative. Later in 2018 BS, cooperative regulation was made and in 2020 BS a cooperative bank was established. After the enforcement of cooperative act 2048, the wave of the establishment of cooperative began all over the country. Now, there are more than 34000 cooperatives which are providing services to the people.

 

5.  Discuss about the roles played by the cooperative for the promotion of local products.

Ans:- Co-operative is operated by its member for their mutual benefit. People can take loan from cooperative and run cottage and small scale industries. People can run business like Bricket methi making, jam and juice making, vegetable farming, medicinal herbs and fruits production business. Such activities mobilized the local capital, and local resources and means are utilized. Local people can create self-employment which improves the living standard of the people. Tourism industry also can be run in local level with the help of cooperatives. Cooperative also encourage for community farming. Hence, cooperative play very important role for the promotion of local products.

 

6.  Prepare a news report shedding light on the advantages of cooperative in Nepal.

Ans:- Advantages of co-operatives

Local correspondence

Ratnanagar, Jestha12

The co-operative opened in every village have brought a sudden change in the life of people. ‘Habit of compulsory saving has been developed after being the member of cooperatives’ said one of the member.it has enhanced social unity and broaden the opportunity to save more for their future use. It also allows its member to tackle the financial problems very easily. People can invest in children’s, education, health etc. They can run business, trade, etc. with the help of loan. Employment opportunity is available. It helps to eradicate poverty. It also encourages to be an entrepreneur by using local resources and means.

 

C.  Long answer questions

1.  What do you think should be done by the state for making cooperative more successful and effective? Mention the measures to raise positive attitudes towards the cooperative in Nepal?

Ans:- The state should do the following activities to make cooperative more successful and effective:

i)  The account of cooperative should be audited by government.

ii)  The members should be given the training to the people to get maximum benefit.

iii)  Government should supervise and monitor the activities of cooperative time to time.

iv)  The registration process and economic activities of cooperative should be under the control of government and Central Bank.

v)  Cooperative should be run according to inclusive and democratic principle.

vi)  Every people should be encouraged to involve in cooperative.

vii)  Cooperative farming should be run for raising the standard of local people.

 

2.  What problems are seen in the cooperatives in Nepal? Suggest the ways for the solution of such problems.

Ans:- cooperative refers to group work and sharing the benefit together. It is a jointly owned enterprise. Cooperative in Nepal are facing the following problems:-

Problems of cooperative

i)  Providing more loans to kith and kin.

ii)  Appointing the members of same family in executive post.

iii)  Mobilizing the fund incorrectly even against the rule.

iv)  Collecting deposit from ordinary and proving loan to big enterprises.

v)  Not getting the account audited and maintaining economic transparency.

vi)  A person, being involved in mini cooperatives.

vii)  The operators, running way by collecting huge sum of money from the ordinary people.

Solutions

i)  Effective implementation of cooperative act.

ii)  Discouragement for the investment out of scope.

iii)  Providing facility to the depositors.

iv)  Prohibiting the sale of share out of the scope.

v)  Making the provision of effective monitoring.

vi)  Establishment of cooperative training centers at appropriate local levels.