Centre likely to grant more funds for rural schemes to ease pain – The Hindu

To enjoy additional benefits
CONNECT WITH US
Qatar World Cup 2022Mexico vs Poland FIFA World Cup Live Score: Lewandowski-led team faces El Tri in Group C
November 22, 2022 08:59 pm | Updated 10:33 pm IST – NEW DELHI
COMMents
SHARE
READ LATER
Image for representation purpose only. | Photo Credit: Ramesh Sharma
The Central Government will likely raise its allocation to the Rural Development Ministry by 18% to ₹1.60 trillion ($14.19 billion) for the current fiscal year, partly to bolster its job scheme, a top government source told Reuters.
India had allocated ₹1.36 trillion for 2022/23 for various schemes in the hinterland, but the stress in rural areas has led to increased demand for the Mahatma Gandhi National Rural Employment Guarantee Scheme, or MNREGA, the country's only minimum job guarantee scheme, which pays $2 to $3 a day.
The additional funds will be used to bulk up job and affordable housing schemes in the fiscal year ending March 2023, said the official, who did not want to be named as the information is yet to be made public.
India's Finance and Rural Development Ministries did not immediately respond to requests for comments.
The government had initially budgeted ₹730 billion for the job scheme and ₹200 billion for the housing scheme. It has already spent ₹632.6 billionon the jobs programme, according to the Rural Development Ministry's website.
Coming out of the pandemic, the Asian country's rural areas were under stress, with rising prices and limited non-farm job opportunities, forcing more people to sign up for the government's job scheme.
The rural unemployment rate has remained above 7% for the majority of the months in the current fiscal year that started on April 1, according to data from Centre for Monitoring Indian Economy (CMIE), a private think-tank.
The rural unemployment rate was 8.04% in October, according to CMIE.
The government is likely to seek approval for these additional funds in the next parliament session, which starts on December 7.
COMMents
SHARE
economy, business and finance / India / Agriculture
BACK TO TOP
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

source

Leave a Comment