The awkward myth of a revival in the country’s rural economy3 min read 17 Dec 2020, 09:32 PM IST
Low incomes and poor farm-gate prices capture the reality of relentless distress in our hinterland
National accounts data released last month estimated that the economy has contracted by 7.5% in the second quarter of 2020-21 compared to last year. For many, this was a sign of recovery, given expectations that India’s gross domestic product (GDP) would contract by around 10%. It is, no doubt, an improvement from the 23.9% GDP decline in the first quarter. Much of the euphoria over this so-called recovery was attributed to a revival of the rural and agrarian sectors.
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