Emerging Consumer Trends of Rural India & Their Financing Needs
Journal Title: IOSR Journal of Economics and Finance (IOSR-JEF) - Year 2019, Vol 10, Issue 1
Abstract
India is one of the fastest growing economies in the world and has about 65-70% of its economy living in villages. Government of India has come up with a novel plan to double farmer’s income by 2022. The strategy to achieve this goal involves use of better technology, incentive structure, public investments and facilitating institutions. This feat cannot be achieved through government initiatives alone. It requires equal contribution from the private sector as well. This research paper focuses on how private financial institutions like NBFCsshould help to achieve this goal. Firstly, it involves financing construction of warehouses as per Warehousing Development Act, 2007. According to Food Processing Industry, harvest and post-harvest losses of agricultural produce is estimated at Rs.92,651 crore. Secondly, financial institutions should also emphasize its focus on financing and creation of food processing industry near the farms (like sugar factories are near sugarcane fields). Lastlly, they should start quick disbursement of loans to farmers on warehouse receipts. The farmer can use the fund for his consumption needs and inputs for the next season. Meanwhile, the farmer can keep an eye on the price, and sell the produce, for a price that he thinks is right.
Authors and Affiliations
Anup Sharma, Archit Rastogi, Nishi Gogia
Keywords
Related Articles
- EP ID EP443086
- DOI 10.9790/5933-1001020109.
- Views 177
- Downloads 0
The Relationship between Cash Conversion Cycle and Firm Profitability: Special Reference to Manufacturing Companies in Colombo Stock Exchange.
Cash conversion cycle is a significant financial metric that used to determine the efficiency of converting organization’s inventory into sales and orderly into cash. It is also one of most widely used measure in liquidi...
An Analysis on Economic Structure and High Ranking Sectors of Deli Serdang Regency, Indonesia
The objective of the research was to determine regional economic and high ranking sectors in Deli Serdang Regency as the object of information and economic development planning. The data were secondary data with time ser...
The Effect of Dividend Policy on Determining the Working Capital Requirement
The effect of dividend policy on value of the firm is the most debated issue in the field of finance because the dividend decision is correlated with investment decision and financing decision of a listed firm. The most...
Effect of Socio-Economic and Demographic Factors against Social Capital, Farming Performance and Farmers Welfare in Sumbawa, Indonesia
Paddy Farmers are major economic characteristics of the agriculture village in Sumbawa. Wetland agriculture is the most sector of people life. Rice farmers is the dominant segment in rural areas in Sumbawa, they earn inc...
Analysis And Improvement Strategy Quality Of Economic Growth in North Konawe District Province Sulawesi Tenggara - Indonesia
This research was conducted with the aim of: (1) knowing how the quality of economic growth of Konawe Utara Regency so far; (2) to analyze the factors that determine the quality of economic growth in North Konawe Regency...