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LATEST NEWS UPDATES | Union Budget 2020-21: An expert's guide to rural distress -Jitendra

Union Budget 2020-21: An expert's guide to rural distress -Jitendra

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published Published on Feb 18, 2020   modified Modified on Feb 18, 2020
-Down to Earth

Nirmala Sitharaman's Budget has all the ingredients to deepen India’s farm crisis

These are desperate times for India.

Rural unemployment was at a 45-year-high while consumption expenditure of rural families fell 9 per cent between 2011-12 and 2017-18, according to a report by the National Sample Survey Office (NSSO), which the government never released but got leaked to the media in November 2019.

Between 2011-12 and 2015-16, the income of farmers grew 0.44 per cent a year only and did not rise ever since.

One way to counter a flailing economy is to infuse cash. So, when Union Finance Minister Nirmala Sitharaman presented the Budget for financial year 2020-21, economists expected a substantial fiscal stimulus to key government initiatives, such as the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) — a direct cash transfer scheme under which farmers receive income support of Rs 6,000 a year — and the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).

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Down to Earth, 18 February, 2020, https://www.downtoearth.org.in/news/agriculture/union-budget-2020-21-an-expert-s-guide-to-rural-distress-69321?fbclid=IwAR2BUl7xiGbsatq8SBPJXgHnzLPPhgh7bfYG2R-RoKgMrl


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