Gist of Kurukshetra: June-2021
4th Aug, 2022
Data related to rural sector
- The rural economy of India generates about half of the national income and more than two- third of the employment is generated in the rural areas
- More than half of the value added in manufacturing sector is contributed by rural areas.
- The agriculture and allied sectors alone contributed 17.8 percent to the total gross value added of the country during 2020- 21.
- Most of the current studies indicate that the growth, income and consumption patterns of rural India hold the key to boost demand, revive the economy, and sustain economic growth at national level.
- Fast Moving Consumer Goods (FMCGs) sector is the fourth largest sector in India employing over three million people. This sector primarily consists of three segments – household and personal care (50%), food and beverage (31%) and healthcare (19%). Growing awareness, easier access, changing lifestyles and enhancing income have been the key growth drivers for FMCG sector. Due to various socio-economic factors, the urban segment had been the largest contributor to the overall revenue generated by the FMCG sector. However, in the last few years, the FMCG market has grown at a faster pace in rural India. As a result, FMCG products account for nearly 50 percent of the rural spending.