Daily Current Affairs Update : 02 March 2023

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State of Rural India

  • Rural India is already in distress, yet the Union Budget 2023-24 did not offer much to revive the economic growth, instead it made severe cuts in the allocations to subsidy schemes, with some crucial schemes receiving marginal rises in allocations.

How has the Union Budget Fared for Rural India?

  • There is marginal rise in the allocation of agriculture and allied activities, including PM KISAN, from Rs 1.36 trillion crore in FY23 to Rs 1.44 trillion crore in FY24 (an increase of 5.8 %).
  • On agriculture R&D, the allocation is only Rs 9,504 crore, although it is higher than Rs 8,658 crore in FY23.
  • This is only 0.4 % of agri gross value added, while other countries spend 1-2 % of agri Gross Domestic Product (GDP).
  • Food Subsidy saw a 31% cut
  • Fertilizer subsidy saw a 22% cut
  • Liquified Petroleum Gas (LPG) for the poor have been reduced by 75% to Rs 2,257 crore now.
  • The budget for the procurement of cotton by Cotton Corporation under Price Support Scheme has been reduced to Rs 1 lakh from Rs 782 crore in 2022-23.

What is the State of Rural Economy?

  • 65% of India’s population lives in the rural areas and 47% of the population is dependent on agriculture for livelihood.
  • two thirds of rural income is now generated in nonagricultural activities.
  • agriculture sector has grown at an average annual growth rate of 4.6% in the past six years.

What are the Challenges to the Rural Economy?

  • Inflation
  • Agriculture Sector Issues
  • Lack of Rural Employment Opportunities
  • Poor Infrastructure
  • Inadequate Social Protection
  • Lack of Fiscal Autonomy

What are the Constitutional Provisions Related to Rural Development in India?

  • Article 40 enshrines one of the Directive Principles of State Policy
  • Panchayati Raj Institutions was constitutionalized through the 73rd Constitutional Amendment Act, 1992
  • The Eleventh Schedule of the Constitution

What are the Initiatives Related to Rural Empowerment?

  • Deen Dayal Upadhayay Grameen Kaushalya Yojana
  • Pradhan Mantri Kaushal Vikas Yojana
  • Pradhan Mantri Matru Vandana Yojana
  • Mahatma Gandhi National Rural Employment Guarantee Act
  • National Rural Livelihood Mission
  • Pradhan Mantri Awas Yojana

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Class24 team covers these points in this Class24 YouTube and SSC Class24 YouTube Channels news analysis :
- Daily Current Affairs in Hindi and English
- Current Affairs 2022 Questions and Answers
- Current Affairs PIB
- Current Affairs 2022 in Hindi PDF
- Daily Current Affairs Quiz
-The Hindu Newspaper Analysis
- The Indian Express Newspaper Analysis
- Dainik Jagran Analysis
- The Economic Times Analysis
- Dainik Bhaskar Analysis
- The Financial Express Analysis

Current Affairs Of the Day - 20 Dec 2022 :- Welcome to the Class24 Current Affairs website which provides you with the best compilation of the Daily Current Affairs 2022 taking place across the globe: National issues, International news, Sports covers, Science and Tech, Banking, Economy, Agreement, Appointments, Ranks and Report and General Studies.


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