Amid 'Green Shoots' Need To Build Resilience In Rural Economy, Says CII's Sanjiv Puri
“Green shoots (are) definitely visible, but we need to answer how to put rural (economy) into a stronger (footing),” Puri, also president of Confederation of Indian Industry, told NDTV Profit.
The rural economy is witnessing green shoots of recovery but there’s a persistent need to build resilience, according to Sanjiv Puri, President of Confederation of Indian Industry.
Green shoots (are) definitely visible, but we need to answer how to put rural (economy) into a stronger (footing)," Puri, also president of Confederation of Indian Industry, told NDTV Profit during a televised panel discussion. He listed lower incomes and extreme risk of weather as the two major issues faced by the rural economy.
There’s a need to build resilience, improve productivity and bring new reforms in agriculture, he said. He also proposed the establishment of integrated hubs to stimulate rural economic development and infrastructure improvements.
To sustain this momentum and broaden economic participation, Puri said policies that foster non-farm employment and elevate the rural development index are essential.
As the government presents its Union Budget on July 23, the agriculture sector is expected to be in focus. Healthcare has been another persistent theme, especially since the pandemic.
Echoing Puri's sentiments, Chandrajit Banerjee, director general of CII, called for policies to boost employment in the rural non-farm sector and promote high-quality job creation across the nation at scale.
According to Rajiv Memani, president designate of CII and chairman and CEO of EV India, the government could introduce “some big schemes around the healthcare sector”.
R Mukundan, vice president of CII and managing director and CEO of Tata Chemicals Ltd., emphasised the need for refining the government’s production-linked incentive schemes. “However, they can't turn into a permanent feature and there is a need to manage it well.”
