The Ministry of Finance said that the latest NABARD Rural Economic Conditions and Sentiments Survey shows a strong and broad-based revival in rural demand. The eighth round of the survey indicates rising incomes and improved household well-being over the past year.
According to the Ministry, 80 percent of rural households have reported higher consumption compared to last year. The survey also shows that 67.3 percent of monthly income is now spent on consumption, the highest share since the survey began. This was due to the rate rationalisation of GST, the Ministry said.
Reflecting income growth in the rural economy, the survey shows that 42.2 percent of rural households experienced income growth. It also shows a strong future outlook as 75.9 percent expect a rise in their incomes next year.
NABARD conducts this survey every two months across the country. It captures key indicators such as income, consumption, inflation, credit and investment, along with household perceptions about the economic outlook.
