-Business Standard FY10 was a drought year with a monsoon rainfall deficiency of 22 per cent of the 50-year average, resulting in a seven per cent dip in the total foodgrains production. But, that did not dampen the consumer sentiment as the auto sector grew by 26 per cent, fast-moving consumer goods (FMCG) 25 per cent and the consumer durables sector by 21 per cent. The momentum continued the following year,...
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Social goods lead to public good -Ashok Varma
-The Hindu Business Line Higher social sector spending by the government boosts income and consumption, and spurs growth India’s economic growth is now much more closely linked to the state of the rural economy than it ever was. Sustaining a 7.5-per cent growth in GDP would be contingent on higher growth in rural household consumption. Rural expenditure grew 5.7 per cent annually during 2005-15 — against 5 per cent annual growth in the...
More »Two cheers for jobs scheme
-The Hindu Business Line It has worked as a rural safety net. But the Centre has other budgetary priorities A decade after the Mahatma Gandhi National Rural Employment Guarantee Scheme came into force, the NDA government has come around to accepting its usefulness — and that, in a difficult agriculture year. Last February, the Prime Minister disparaged the programme for merely digging pits. But only a few days ago, the finance minister...
More »Sow seeds of productivity to ameliorate rural poverty -Saket Misra
-Hindustan Times Revolution imminent… genetically modified seeds produced by MNCs cause farmer suicides. Incendiary, out-of-context sound-bites juxtaposed between heartrending visuals distort rural poverty from a complex issue that each Indian must help resolve to a simplistic, accusatory Peepli Live feature. Instead of quixotic and strident anti-growth agendas offered as panacea, a coordinated and consistent approach to poverty reduction is needed. Poverty reduction needs development. The linkage between economic growth and poverty reduction is...
More »Why higher govt spending is crucial to contain rural distress
-FirstPost.com Even as the Narendra Modi government has been making claims that India’s rural economy has gained pace under his rule, empirical evidence suggests that the health of country’s rural economy may not have improved much on account of declining or stagnant income levels. The situation, experts say, is unlikely to change in the near future as there are low chances of a revival in rural income generation. A survey by brokerage...
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