5 Ways to Reboot the Indian Rural Economy Post COVID-19
This Corona Pandamic creates havoc in Rural as well as Urban Economy. But reverse migration makes it tougher for Rural Economy. With the migrant laborers returning home with no cash or savings, village communities are stressed due to the loss of remittance income, and the added mouths to feed. With less spending and a high cost of unorganized lending rate is already risen the dwindling income of the Farmer in upcoming days. Young generation migrant worker is not interested in Agriculture work so they are planning to go back but they know it will be harder to get back to normal life in the city even if we are in 4th phase of a lockdown or unlock. This is a great opportunity for the local administration to retain these skilled or semi-skilled workers. So let’s find out the way to retain these workers.
1. 1. Awareness and Education: There are many schemes of central and state governments that help skilled and semi-skilled workers to set up their own unit. DIC and KVIC institution helps these workers to get the subsidy as margin money to get a loan from Banks. Local administration should help these workers to apply for such a loan.
2. 2. PM SVANidhi: Instant RS 10000.00 loan to a street vendor. This scheme is fully digitized so popularizing these schemes is a great tool for the local administration to help the small vendors.
3. 3.Kisan Loan: Agriculture is a vital sector in the rural economy. With more than 100 schemes and promising RS, 2lakh core of Agri Loan to The Agri sector is a welcoming move of our Central government. This opportunity should be captured by Local administration. Now Agri loan can be availed by the Tenant farmer who doesn’t hold any Land. And even if someone availed Agri Loan he is eligible to get RS 50000.00 instant Agri loan for Agri Allied Activities.
4. 4. Strengthens SHG: Now an SHG group can get a Loan up to Rs 20.00 lakh. This opportunity should not be missed so the role of the Local administration to get these SHG some idea to creates some assets like starting a local agarbati farm, candle manufacturing, online craft sell, mushroom cultivation, sandal manufacturing. With a little bit of help, these SHG can do wonder and creates a lot of job opportunities. With minimum documentation, every bank is willing to help these SHG.
5. 5. Promotion of Agri Allied Activities: Diary is a sector that needs a lot of attention and now the relaxation in the documentation, they can get a minimum of Rs 50000.00 instantly. Beekeeping also a great opportunity for the rural farmer to get a decent income of a minimum of Rs 10000.00 every month.
I hope these suggestions will help the Local administration to help the returned migrant worker to get a decent income rather than regular income. To eradicate Poverty we should stop migration and this is the only solution to create or strengthen rural infra. Opportunity is everywhere we should be united to get this opportunity.
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