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Prime Minister has recently urged lenders to finance rural businesses and projects aligned to national priorities like zero emission, health infrastructure, space, exports and start-ups.
About the News
Rural economy in India
Why is rural economy important?
What are the Challenges faced by the rural economy?
What more can be done?
India has seen a quantum jump in unplanned migrations from rural to urban areas and in order to improve socio economic conditions of vast majority of population in the country, there is a need to make rural economy stronger and create employment opportunities in rural economic activities. The improvement in economic conditions of rural households is also essential for reducing the disparity in per capita rural and urban income which has remained persistently high. This requires significantly higher growth in rural economy as compared to urban India.
Question: Rural Economy is the backbone of Indian economy. Analyze.
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