Question
According to NABARD’s AllIndia Rural Financial
Inclusion Survey (NAFIS) 2021–22, by what percentage did the average monthly income of rural households increase over the five-year period from 2016–17 to 2021–22?Solution
The average monthly income of rural households increased by 57.6% over the five-year period from 2016–17 to 2021–22, as per NABARD’s NAFIS 2021–22 report. Key Highlights from the Survey: • Average Monthly Income (All Households): o 2016–17: ₹8,059 o 2021–22: ₹12,698 o Growth: 57.6% rise over five years o Nominal CAGR: 9.5% o Comparable Nominal GDP Growth: 9% (financial year basis) • Agricultural Households Income: ₹13,661/month • Non-Agricultural Households Income: ₹11,438/month Primary Sources of Income: • For All Households: o Government/private sector jobs contributed the largest share: 37% • For Agricultural Households: o Cultivation: ~33% o Government/private sector employment: ~25% o Wage labour: 16% o Own enterprises: 15% • For Non-Agricultural Households: o Government/private sector employment: 57% o Wage labour: 26%
Opportunity for employment is being created increasingly by our developing plan are implemented.
The apex bank hiked banks provisioning requirement for 2.75 percent from the existing 2 percent on restructured standard loan accounts.
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