This paper provides a framework for analysing land regeneration programmes combining financial, economic and environmental aspects as applied to a wood plantation programme undertaken by a Tree Grower’s Cooperative Society (TGCS) established by the National Tree Growers’ Cooperative Federation (NTGCF), Anand, India. Mallanahally TGCS, situated in the southern part of Karnataka state in India was selected and a survey was carried out. Benefit–cost ratios and internal rate of return are worked out for various situations. The paper also examines the role of cooperatives in managing plantation activities and assesses the distributional aspects of the benefits of the plantations. The survey elicited information on the villagers’ perceptions regarding benefits from and barriers to implementation of plantation programmes. It is shown here that despite apparently unequal distribution of benefits, the present arrangements preserve cooperation as each of the stakeholders derive positive benefits.
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