Union Budget 2023-24: Boost to agriculture, rural but more push needed

The Economic Survey says that the agriculture sector has grown at an average annual growth rate of 4.6 per cent in the past six years. However, agriculture and rural incomes are under stress for several reasons.

The purchasing power of the rural population has declined due to higher inflation in rural areas. Real rural wage growth has been negative due to high inflation. Weak rural demand has been a concern for fast-moving consumer goods and other consumer durables, although we see a few green shoots now. 

Demand for work under the rural employment guarantee scheme (Mahatma Gandhi National Rural Employment