There are mainly three basic principles of Co-operative. One then that the membership of the organization here is voluntary. People with their wish become a member of a Co-operative organization. Second, it is managed and operated on a democratic basis.
There is no discrimination between its members on the basis of capital status or any other basis.
Third, its economic objectives also include moral and social elements. It works not only for earning economic profit but also for the benefit of the members through moral and social initiatives.
Role in the development of Bihar : Bihar is a backward state of India. After the bifurcation of the state, Bihar became a resource deficient state. Agriculture is an important source of livelihood for the people her. On which 80 percent of the total population of Bihar depends. The cultivation here is also based on monsoon. In general, investing in agriculture is a gamble.
In Bihar, especially at the village level, important jobs like Dhankutti, incense sticks, manufacturing, bidi manufacturing, shoe manufacturing, brick manufacturing etc. are being run with the help of Co-operatives. For this the state level Co-operative bank provides loans. Employment is being promoted to a great extent at rural technology level through this Co-operative bank. Wherever such jobs are being run there is a favourable economic impact on the people. As a result, the income of the individual is gradually increasing and the standard of living of the people is rising.
