Many analysts have underlined that the BJP’s below-par performance in the Maharashtra and Haryana assembly elections reflected concern, among other factors, about the economy, which slumped to a growth rate of 6% in the three months to June 30, the slowest pace in over six years.
The government has already spent nearly 80% of its full-year budget for the flagship rural job guarantee programme, top officials said on Friday, and is staring at a situation where it has to infuse more money into it to revive a stuttering rural economy in the face of a potential cash crunch.
As demand for work under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) has surged, which analysts said pointed to a worsening of rural distress amid an economic slowdown, the job programme has already generated 150 crore persondays of employment in the fiscal year as of October 25. That compares with 268 crore persondays in the entire last financial year, official data showed.
Many analysts have underlined that the BJP’s below-par performance in the Maharashtra and Haryana assembly elections reflected concern, among other factors, about the economy, which slumped to a growth rate of 6% in the three months to June 30, the slowest pace in over six years. Earlier this month, a study by Nielson showed that consumption of packaged consumer goods had hit a seven-year low in rural India.
Please click here to read more.