Budget 2024: General Budget The wait is now over. Tomorrow i.e. on Tuesday, Finance Minister Nirmala Sitharaman will present the budget in Parliament. Every sector has high expectations from this budget. Economy experts say that to boost the economy in rural areas, investment is needed in both traditional and new sectors. This will strengthen the rural economy, which will benefit the country’s GDP. Experts believe that 68 percent of the total population works in the rural economy. At the same time, its contribution to the country’s GDP is less than half.
The economy will benefit from investment in village infrastructure
Amit Vatsyayan, GPS-Agriculture, Livelihood, Social and Skills Lead at EY India, said that investing in rural infrastructure, agriculture and non-agriculture sectors will strengthen the economy. Technology is very important to revive the rural economy. The expert said, 60 percent of India’s rural economy is in six states – Uttar Pradesh, Bihar, Maharashtra, West Bengal, Madhya Pradesh and Rajasthan. While planning rural investment strategy, a local approach needs to be adopted to address the challenges.
Women entrepreneurs are more capable of generating employment
Women entrepreneurs in India are more capable of driving economic growth and creating employment opportunities. Women-owned Micro, Small and Medium Enterprises (MSMEs) have shown very good growth. Women-led MSMEs have employed 11 percent more women employees than men-owned (MSMEs). They have created one-third of the new employment opportunities. At the same time, income has increased by 12 percent on a monthly basis and net income has increased by 19 percent.
Vatsyayan said that to increase facilities for women entrepreneurs in India, a good ecosystem needs to be created and they will have to be provided facilities like finance, market, skills, network and monitoring.
Input: IANS
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