UPSC Mains General Studies Paper III Topic: Economy Around 52% of the farming households are in debt as per the NSSO Situation Assessment Survey of Agricultural Households (2013) with interest rates touching as high as 89-92% in some states. The quantum of debt has increased a lot, especially from informal credit sources. Rural agrarian distress has become the elephant in the room and is at the centre of the nationalRead More
Mint Rural Distress Index: The index provides equal weightage to fall in farm wage growth, which affects the purchasing power of agricultural labourers, and fall in tractor sales growth, a proxy for rural sentiment and demand.The index captures more than just a fall in agricultural production, which is only one aspect of the rural economy in India. Three components of Mint rural distress index are: Growth of farm output Rural wages TractorRead More