13 Reasons Why GST Can Be A Messiah For Rural Economy
Rural & Marketing|February2017

GST is going to be a game changer not only for the industry sector but also will be a messiah for the rural economy in terms of increased demand for durables and better understanding of the taxation.

SP Sharma
13 Reasons Why GST Can Be A Messiah For Rural Economy

The 70 percent of the population is in the rural segments, the Goods and Service Tax (GST) will become a catalyst for common rural market in India with the removal of state level barriers.

Rural India has undergone rapid transition in the past few years; the degree of change varies from use of technology to realising the importance of education. The United Nations regards rural development as a process of change among rural communities from the traditional way of living to a more progressive way thus being regarded as the moment of progress.

In rural India, traditionally the gram panchayats are given the constitutional legitimacy to improve local public service delivery and governance. The finances came predominantly from the two sources:

Funds devolved by State governments under the guidance of State Finance Commissions (SFCs) and; ‘Own' revenues generated locally from levies of house tax, professional tax and water charges.

In 2016-17, the finance minister unveiled Rs 19.78 lakh crore budget with a focus on the rural economy and infrastructure along with a minor rebate for small taxpayers and more money for health, literacy and roads. An amount, of Rs 87,765 crores, was allocated for the rural sector while Rs 2,000 crore was earmarked to give concessional LPG connections to BPL families.

Further, as much as Rs 2.87 lakh crore was allocated as grants in aid to panchayats and municipalities, while the allocation for the social sector - including for education and healthcare -- had been pegged at Rs 1.51 lakh crores. Thus the governments focus on the rural economy in terms of expenditure has gained momentum in the last few years, causing certain direct and indirect benefits to the rural India.

This story is from the February2017 edition of Rural & Marketing.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the February2017 edition of Rural & Marketing.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM RURAL & MARKETINGView All
Genetic editing Technology would replace GMOs for Agricultural Advancement
Rural & Marketing

Genetic editing Technology would replace GMOs for Agricultural Advancement

In a candid interview with Tafeem Siddiqui, Father of Green Revolution MS Swaminathan says the government should invest more public sector research which is transforming agriculture and gene editing technology is the new mantra for higher productivity

time-read
9 mins  |
April 2017
Demonetisation Dairy Dares
Rural & Marketing

Demonetisation Dairy Dares

Diary organisations procure milk from lakhs of farmers. Some have been making payments to farmers through bank transfers while some are still disbursing cash. The demonetisation move has changed the way Indian dairy sector functions. Mohd Mustaquim reports on how dairy dares to take the challenge.

time-read
5 mins  |
January 2017
Why should you invest in Rajasthan's Agriculture Sector​​​​​​​
Rural & Marketing

Why should you invest in Rajasthan's Agriculture Sector​​​​​​​

The state government is organising Rajasthan Global Agritech Meet (GRAM) in Jaipur on November 9-11 and it aims at doubling farmers' income by 2022.

time-read
2 mins  |
October 2016
Agri Enterprises Will Get Customised Policy for Different Investment Slabs
Rural & Marketing

Agri Enterprises Will Get Customised Policy for Different Investment Slabs

Rajasthan Government is organising an International Agritech Conference cum exhibition in Jaipur in November this year. Senior Cabinet Minister Yoonus Khan spearheaded the New Delhi Roadshow for the event. In an exclusive interview with BK Jha, he spoke about investment opportunities in the state.

time-read
3 mins  |
October 2016
Rabi Campaign Be Wise, Sow Wisely
Rural & Marketing

Rabi Campaign Be Wise, Sow Wisely

The Union Agriculture and Farmers Welfare Minister Radha Mohan Singh asks farmers to fix crop wise targets and to introduce new technologies & practices in the agriculture sector. BK Jha analyses the prospects of the forthcoming Rabi crops and achievement of Kharif season 2016.

time-read
7 mins  |
November 2016
Bone-numbing truth of Osteoporotic epidemic in India
Rural & Marketing

Bone-numbing truth of Osteoporotic epidemic in India

The number of bone related cases and fractures occurring due to Osteoporosis problem is steadily increasing BK Jha

time-read
2 mins  |
November 2016
RPCAU Will Be The Prime Mover Of Second Green Revolution In Eastern India
Rural & Marketing

RPCAU Will Be The Prime Mover Of Second Green Revolution In Eastern India

The fourth oldest agricultural university in India, Dr. Rajendra Prasad Central Agriculture University (RPCAU), formerly known as Rajendra Agricultural University (RAU) has played an important role in agricultural development in the eastern states. Located at Pusa in Samastipur, Bihar, the varsity has now upgraded to Central University in May 2015. It is seen as a big driver of second Green Revolution, expected to be taken place in the region. Dr. RC Srivastava, Vice Chancellor, RPCAU talks to Mohd Mustaquim on the various issues related to second Green Revolution and agricultural research in the region.

time-read
6 mins  |
February2017
Take Over Tussle Takes Off
Rural & Marketing

Take Over Tussle Takes Off

The Ministry of Food Processing Industries (MoFPI) seeks complete control over organisations which do not come under its administrative control but has onus of developing business related to these agencies. Tussle with two other ministries has now reached to the highest level-PMO. An exclusive Report by Mohd Mustaquim.

time-read
5 mins  |
February2017
Vision For Vision Eye Mitra Plans To Train 10,000 Opticians In Rural India By 2020
Rural & Marketing

Vision For Vision Eye Mitra Plans To Train 10,000 Opticians In Rural India By 2020

Eye Mitra Optician programme, run by 2.5 New Vision Generation (2.5 NVG), a division of Essilor India has trained and created 2,500 rural youth to be opticians in their villages in three years. 2.5 NVG plans to take the number to 10,000 by 2020. Milind Jadhav, head, 2.5 NVG - India, talks to Mohd Mustaquim about the programme and its impact.

time-read
5 mins  |
March 2017
Post Budget 2017-18  10 Strategies Companies Must Follow To Tap Rural Markets
Rural & Marketing

Post Budget 2017-18 10 Strategies Companies Must Follow To Tap Rural Markets

Companies ranging from FMCG, Consumer durables to Auto, Budget 2017-18 has several reasons for them to smile as rural demand is expected to increase. Companies now gear up to capture the markets and preparations are on. BK Jha Reports.

time-read
5 mins  |
March 2017