Page 2 - Rural Economy

Share of food processing in GVA needs to be raised to 7.2%: Report

This is because increasing agricultural output without investing in processing facilities can harm farmers' earnings and cause rural distress

Cooperative sector vital in making India 3rd largest economy: Gujarat CM

Gujarat Chief Minister Bhupendra Patel on Monday said the cooperative sector is the best way to strengthen the rural economy and asserted it would play an important role in making India the world's third largest economy. He was speaking at an event in Deodar village in Gujarat's Banaskantha district after inaugurating and laying the foundation stones of various projects of Banas Dairy and Banas Bank. "Under the guidance of Prime Minister Narendra Modi, India has become the fifth largest economy in the world and is marching forward to be the third largest economy. I firmly believe the cooperative sector will play an important role in it," Patel said in his address. "Recently, the state government organised the 10th edition of Vibrant Gujarat Global Summit. Our focus was on emerging and future technologies such as green energy, hydrogen energy and semiconductor. At the same time, we are also focussing on the rural economy. The cooperative sector is the best way to strengthen the rural

Interim Budget may see measures to boost consumption demand, rural economy

Finance Minister Nirmala Sitharaman is likely to step up efforts to boost consumption and rural economy while keeping inflation under check when she presents her sixth straight Budget on February 1. Experts said one way to boost consumption is to put more money in the hands of people, and one of the possible ways of doing it is by reducing the tax burden through tinkering with tax slabs or increasing the standard deduction. Another proposal is related to increasing the funds under the rural employment guarantee scheme MGNREGA and higher payout for farmers. Women and marginalised communities may get additional sops as part of Sitharaman's effort to boost consumption ahead of the general elections, experts said. Usually, interim Budgets, which are presented in the Lok Sabha ahead of the general elections, do not contain fresh tax proposals or new schemes. In the interim Budget, the government will seek permission from Parliament to meet its expenses for 4 months of the 2024-25 ...

Domestic two-wheeler sales zoomed 9% in 2023 fuelled by rural demand uptick

The 2023 sales are still much below the pre-pandemic peak observed in 2018 when 21.645 million units of two-wheelers were sold

Rural startups seek better supply chain, infra, easier access to funds

Rural startups are making a strong pitch for new programmes to foster research and innovation, as the grassroots-level entrepreneurs seek support for streamlined supply chains, subsidies, improved infrastructure, and easy access to finance. As the Budget and the Lok Sabha elections draw closer, startups working in various sectors, especially in smaller towns and villages, said they expect the government to look at various teething issues, even as their "overall performance has improved owing to various policy changes in the past couple of years". "India's food processing industry faces a number of difficulties such as outdated equipment, ineffective supply chains, poor infrastructure, and restricted finance availability. We expect the government to help us connect with global supply chains so that we can export our products to international markets," Pardeep Kumar Yadav, Founder of Krini Spices, told PTI. Krini Spices, which was founded in March 2017, has 22 direct and over 100 ...

Indians' willingness to spend back at pre-Covid level, shows data

Consumer sentiment in rural India highest since Dec 2019

UPI transactions surge 118% in semi-urban & rural stores, shows report

Aadhaar Enabled Payments System (AePS) withdrawals increased 30 to 40 per cent during direct benefit transfer (DBT) releases

MGNREGS demand continues to be robust even as funds dip, shows data

Almost 80 per cent states have negative balance; all India deficit stands at over 9619 crore

Will the September uptick in rural economy sustain in future?

The uptick in monsoon rains in September after a dry August and improvement in kharif acreage seem to be the immediate plausible reasons for the improvement

Haryana clears projects worth Rs 284 cr under rural augmentation programme

The Haryana government has decided to implement 13 new projects worth more than Rs 284 crore under rural augmentation programme and Mahagram Yojana in four districts, an official statement said on Tuesday. The districts that will be covered are Hisar, Jind, Sonipat and Rewari. Chief Minister Manohar Lal Khattar on Tuesday approved these projects that will be implemented by the Public Health Engineering Department with the loan assistance from NABARD (National Bank for Agriculture and Rural Development), the statement said. The projects in different villages of these districts include works related to canal based water supply scheme, construction of additional storage and sedimentation tank for existing water supply scheme, augmentation of drinking water supply and providing sewerage system. The statement said that Haryana has already ensured the supply of functional Household Tap Connections (FHTCs) to every household under the Jal Jeevan Mission. The central government had set a

Festive season bump unlikely to jumpstart rural auto demand: Analysts

India has a line-up of festivals and auspicious periods between August and November, pushing up vehicle sales

West Bengal, Centre spar over unpaid MGNREGS and housing scheme funds

Union Rural Development Minister Giriraj Singh hit back, alleging that West Bengal had issued 2.5 million fake MGNREGS job cards due to which crores of rupees of government funds were siphoned off

2.43 million farmers get Rs 21,912 crore input subsidy in Chhattisgarh

Addressing the event, Baghel said his government's efforts to strengthen the rural economy had given the desired results

CM Gehlot ups honorarium for women in rural livelihood projects by 15%

Rajasthan Assembly elections 2023: Ahead of the elections, CM Ashok Gehlot provides interest-free loans to women engaged in rural livelihood projects

Drone tech in agriculture set to boost rural economy in Uttar Pradesh

The government is facilitating the training of drone pilots to cater to the growing demand for drones in the state

Rural growth outpaces urban demand, trend to continue 6 months: Pidilite MD

Rural growth, which was lagging after the pandemic, has outpaced urban demand and this trend is likely to continue over the next six months led by a good monsoon, Pidilite Industries Managing Director Bharat Puri said. Moreover, as the inflationary pressure cools down after two years of volatility, Puri said now he sees 'stability' in input prices, which is providing him with a lot more elbow room to invest back into the marketplace. Puri says he is "increasingly optimistic" as he looks forward as there is clearly increased construction activity, leading to good demand. The company, which recently entered into the Paints market and has a presence in 2-3 states, would expand further to other markets based on consumer responses. It is an organic business for Pidilite, which will grow steadily, he added. When asked about the current quarter (July-September), Puri said there has been disruption at some places due to rains. "Q2 up to now has been a very unnatural quarter simply because

First-ever "Credit Guarantee Scheme" for livestock sector; details here

In an effort to boost the rural economy of the country, DAHD has set up credit guarantee fund trust of Rs 750 crores to give easier access to finance to eligible MSMEs and entrepreneurs

Tourist influx in J&K sees push in rural economy, employment generation

The influx of tourists to Jammu and Kashmir villages is witnessing a push in its rural economy, as well as, employment generation in the area

FMCG firm Emami Ltd bets on demands in rural markets to grow in FY24

FMCG major Emami Ltd is looking to grow in the current financial year riding on the improving demands in the rural markets, a senior company official said on Friday. Speaking to PTI, Emami's CEO of Finance, Strategy and Business Development NH Bhansali said the company will focus on expanding its core business with brand extensions, and also look for acquisition opportunities. "There have been numerous challenges and volatile times for the sector, but now we are witnessing a gradual easing of inflationary pressure and a resurgence in GDP growth. Consequently, we anticipate favourable conditions ahead, especially for the FMCG sector," he said. "While the urban market has shown consistent growth, we are also seeing promising signs of recovery in rural demand after enduring significant difficulties. Therefore, we expect a progressive improvement in rural demand in the foreseeable future. Furthermore, a normal monsoon will provide the necessary impetus for the overall business," he ...

Himachal govt taking prudent measures to boost rural economy: CM Sukhu

Chief Minister Sukhu said that the state government had started to fulfil the election promises made by the Congress party during state elections