The estimate of India Ratings and Research (Ind-Ra) shows that it reached 71.1 per cent in FY12
Impact of deficient monsoon on rural spending will be less severe than it used to be a decade ago, said rating agency Ind-Ra on Monday.
Chennai: Impact of deficient monsoon on rural spending will be less severe than it used to be a decade ago, said rating agency Ind-Ra on Monday. This is because more than two-third of rural income is now originating from non-agricultural activities.
According a report released by the agency, higher growth of the industrial and services sector in rural areas over the years has increased the share of non-agriculture in rural income.
According to the Central Statistical Organisation (CSO) data for FY05, the share of non-agriculture in the rural net domestic product (NDP) stands at 61.1 per cent.
The estimate of India Ratings and Research (Ind-Ra) shows that it reached 71.1 per cent in FY12. New industrial establishments are increasingly coming up in rural areas leading to net value-added per factory in rural areas.
( Source : deccan chronicle )
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