India is primarily an agricultural country. Most of the trade and income of the country depends on the produce that it sells to other nations. Therefore, India needs to have a strong financial presence in its rural areas, where agriculture takes place. This is why the government is taking steps to increase rural finance and improve the economic condition of the families living in these lands.
Currently, a number of schemes have been put in place to improve the rural finance. You should be aware of what these schemes are and how they can affect the entire country in the long run.
Digital India
The Digital India initiative was launched back in 2015, but its effects are being felt even now. Through this scheme, the government is trying to spread education and literacy by introducing the internet into even the remotest corners of the country. Most rural regions did not have internet connectivity before this plan was introduced, but since then thousands of farmers have been educated about the importance of the internet.
This program may not sound too important for the rural finance growth, but with the help of the internet, agriculture can improve vastly and increase the productivity of the country.
Unnat Bharat Abhiyan
One of the greatest obstacles in the way of financial growth across rural India is the absence of proper educational facilities there. Under the proposed Unnat Bharat Abhiyan, the IITs and NITs will come together and establish institutions in villages and other rural areas to increase the quality of education of India’s farmers. This is vital for the upliftment of the rural regions in India.
However, this scheme is yet to be made official. Hopefully, the same will come into effect with the 2018-19 budget.
Beti Bachao, Beti Padhao yojna
Most young girls in rural India are not educated properly and married off at a young age. However, with this initiative, the government will propagate the education of the girl child. When these girls grow up, they can contribute to the rural economy and in turn the Indian economy as a whole.
Easier Loans
The government is also planning to make the money lending procedure simple and affordable in villages and other rural areas. These loans will be managed by the government banks and will be given according to the income of the family in question. This will decrease the burden of paying huge interests in case of loans from microfinance and local moneylenders.
If you reside in the rural regions, keep your eyes on this year’s budget, to know more about the schemes and finance policies being introduced. This will help you assess how the Indian government is trying to propagate rural growth.
Currently, a number of schemes have been put in place to improve the rural finance. You should be aware of what these schemes are and how they can affect the entire country in the long run.
Digital India
The Digital India initiative was launched back in 2015, but its effects are being felt even now. Through this scheme, the government is trying to spread education and literacy by introducing the internet into even the remotest corners of the country. Most rural regions did not have internet connectivity before this plan was introduced, but since then thousands of farmers have been educated about the importance of the internet.
This program may not sound too important for the rural finance growth, but with the help of the internet, agriculture can improve vastly and increase the productivity of the country.
Unnat Bharat Abhiyan
One of the greatest obstacles in the way of financial growth across rural India is the absence of proper educational facilities there. Under the proposed Unnat Bharat Abhiyan, the IITs and NITs will come together and establish institutions in villages and other rural areas to increase the quality of education of India’s farmers. This is vital for the upliftment of the rural regions in India.
However, this scheme is yet to be made official. Hopefully, the same will come into effect with the 2018-19 budget.
Beti Bachao, Beti Padhao yojna
Most young girls in rural India are not educated properly and married off at a young age. However, with this initiative, the government will propagate the education of the girl child. When these girls grow up, they can contribute to the rural economy and in turn the Indian economy as a whole.
Easier Loans
The government is also planning to make the money lending procedure simple and affordable in villages and other rural areas. These loans will be managed by the government banks and will be given according to the income of the family in question. This will decrease the burden of paying huge interests in case of loans from microfinance and local moneylenders.
If you reside in the rural regions, keep your eyes on this year’s budget, to know more about the schemes and finance policies being introduced. This will help you assess how the Indian government is trying to propagate rural growth.
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