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Rural India is the backbone of India. According to the 2011 Census, 68.84% of the population lives in villages. The Indian economy has been growing at an average annual growth rate of 5.8% over the past two decades, reaching 8.9% in 2021. According to the International Monetary Fund (IMF), the Indian economy in 2021 was nominally worth $3.04 trillion; it is the fifth-largest economy by market exchange rates and is around $10.219 trillion, the third-largest by purchasing power parity (PPP). India is one of the world's fastest-growing economies. However, the country ranks 139th in the world in nominal GDP per capita and 118th in GDP per capita at PPP. The backwardness of rural India is a significant impediment to the overall progress of the economy. India is predominately an agricultural country, and farming is their primary occupation. According to the 2011 Agricultural Census of India, an estimated 61.5% depend on agriculture. This paper discusses rural India's challenges and how these challenges can be transformed into new opportunities.
Presenter(s)
Sushma Shukla, Piedmont Virginia Community College
Can Rural India Be a Backbone of India's Economic Growth?
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Session: [010] HUMAN RIGHTS, REFUGEES AND CHALLENGES IN ECONOMIC DEVELOPMENT (AIRLEAP) Date: 4/11/2023 Time: 8:30 AM to 10:15 AM