The much-awaited Union Budget for FY19 focussed on the themes of rural development, improvement of the agricultural economy and promoting Make in India. Accordingly, allocations have risen for rural, agriculture, healthcare and education sectors.
To boost rural incomes, the government has also proposed fixing the minimum support price (MSP) for all summer (kharif) crops at a minimum of 1.5x the cost incurred by the farmer.
No doubt India has excelled in different walks of life and its spectacular development in information technology is next to none. The nation is fast developing to become an economic giant and is marching on the path of industrialization. It has opened its gates for foreign direct investment in multi-brand retail sector and also in sensitive sectors of print and electronic media. But still there is no marked improvement in the standard of living of the majority of its people.
Fund will be used to generate 321 cr person days of jobs, 3.17 lakh km of roads will be laid, 51 lakh houses and 1.88 cr toilets are to be built; MGNREGA has got highest-ever allocation of Rs 55,000 crore
The Union Government will spend Rs 14.34 lakh crore in rural areas in 2018-19 to generate employment of 321 crore person days and to develop infrastructure, Finance Minister Arun Jaitley said today.
The thrust of Union Budget 2018 is likely to remain on creating more jobs in India and boosting farmer's income this fiscal year, findings of the Economic Survey India suggested. The survey found that climate change is likely to increase the burden on already stressed agro economy, as it urged the government to take "radical follow-up action" to achieve its goal of doubling farmers' income by 2022.
India's economic growth would accelerate to 7 to 7.5 per cent in the 2018-19 financial year, enabling the country to bounce back as the world's fastestgrowing major economy, according to the economic survey tabled in Parliament on Monday. The survey also states that although the finance ministry's had planned to reduce the fiscal deficit from an estimated 3.2 per cent of GDP this year to 3.0 per cent in 2018-19, a pause in the move toward a lower deficit could be merited in order to give the economy momentum.
The 2017-18 budget saw the highest ever allocation to Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)–the world’s largest make-work programme–at Rs 48,000 crore, but 56% wages were delayed and 15% wage seekers did not find work in 2016-17, an IndiaSpend analysis of government data shows.
New Delhi, Jan 26 (PTI) As many as 76 per cent of the rural households reported that the quality of assets created under the rural employment guarantee scheme MGNREGS were "very good", according to a recent study conducted by the Institute of Economic Growth.
The impact of Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) is discernible as reported in the recent study conducted by the Institute of Economic Growth, the rural development ministry said in a statement.
NEW DELHI: There is need to diversify agriculture into energy sector in order to increase farmers' income and reduce the country's dependence on petroleum products, Union Minister Nitin Gadkari said today.
"There is a need for diversification of agriculture into energy and power sector. This will not only empower the farmers but would reduce the huge crude import bills of Rs 7 lakh crore," the Road Transport, Highways, Shipping, Water Resources and Ganga Rejuvenation Minister said here.
NEW DELHI: The Modi government is all set to roll out an Amul-like selfhelp movement for five crore tribal people across India. Going beyond the promise of minimum support price (MSP) for gathering minor forest produce (MFP), the Centre plans to reach remote villages to open value addition centres in tribal households, organise tribal people in self-help groups, set up godowns for storage and initiate massive awareness programmes involving state governments and elected representatives.
New Delhi, India - Up to 670 million Indians, who comprise the poorest half of the population, saw just one percent increase in their wealth while the richest one percent cornered 73 percent of the national income generated in the country last year, according to anti-poverty charity Oxfam.
"The wealth of the elite 1 percent increased by 20913 billion rupees [$327bn], equivalent to the total budget of the Indian government last financial year," Oxfam said in its report published on Monday.