In a report, Crif High Mark observed that rural wages are unable to keep pace with rising inflation and sought continued interventions from the policy front on this
Workers at a tea garden on the outskirts of Siliguri. File pic/AFP
Rural wage growth is trailing inflation and the government needs to continue policy support to help people in the mofussil areas, a credit information company said on Thursday. In a report, Crif High Mark observed that rural wages are unable to keep pace with rising inflation and sought continued interventions from the policy front on this.
ADVERTISEMENT
"With rising rural inflation, decline in real rural wages and slowing rural demand, it is important for the government and policymakers to continue their support to the rural sector," it said. Rural inflation had remained above urban inflation in the first half of 2022, it said, adding that rural consumption declined and average rural unemployment decreased.
Also Read: In poll-bound K’taka, BJP minister says, ‘finish off Siddaramaiah’
"The government has focused on providing relief and credit flow to small business and other sectors that were affected by the pandemic. This has likely resulted in more positive macroeconomic outlook across industries in the rural sector," the report explained.
As per the survey, 70 per cent of respondents said government policies and schemes drove rural growth in 2022. It also said that a larger proportion of people (17 per cent in 2022 as against 7 per cent in 2021) expected a deterioration in the overall access to credit.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
