NABARD survey indicates rising incomes and improved household well-being in rural India
New Delhi ( Vivek Ojha ) : The Ministry of Finance said that the latest NABARD Rural Economic Conditions and Sentiments Survey shows a strong and broad-based revival in rural demand. The eighth round of the survey indicates rising incomes and improved household well-being over the past year.
NABARD conducts this survey every two months across the country. It captures key indicators such as income, consumption, inflation, credit and investment, along with household perceptions about the economic outlook.
According to the Ministry, 80 percent of rural households have reported higher consumption compared to last year. The survey also shows that 67.3 percent of monthly income is now spent on consumption, the highest share since the survey began. This was due to the rate rationalisation of GST, the Ministry said.
Reflecting income growth in the rural economy, the survey shows that 42.2 percent of rural households experienced income growth. It also shows a strong future outlook as 75.9 percent expect a rise in their incomes next year.
About NABARD: NABARD is India’s apex development bank, established in 1982 under an Act of Parliament to promote sustainable and equitable agriculture and rural development. In its journey of more than four decades, the premier development financial institution has transformed lives in Indian villages through agri-finance, infrastructure development, banking technology, promotion of microfinance and rural entrepreneurship through SHGs & JLGs and more. It continues to aid in nation building through participative financial and non-financial interventions, innovations, technology and institutional development in rural areas.
NABARD’s mission is to promote sustainable and equitable agriculture and rural development through participative financial and non-financial interventions, innovations, technology and institutional development for securing prosperity.
