• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Indian Economy Shows Signs Of Speeding Up As Rural Demand Surges: RBI

OMMCOM NEWS by OMMCOM NEWS
July 18, 2024
in Business

Mumbai: The second quarter (July-September) of 2024-25 has begun with signs of quickening momentum in the Indian economy as an improvement in the outlook for agriculture and the revival of rural spending have turned out to be the bright spots in the evolution of demand conditions, according to the RBI’s monthly bulletin released on Thursday.

With rural spending outpacing urban segments, the rural-urban divide is narrowing, as the recent monthly per capita consumption expenditure (MPCE) survey of the NSSO highlights.

This is on the back of rising fiscal transfers, an increase in the wage rate as typified by the MGNREGS and the rising volumes of remittances to rural households due to urban migration. These are some of the proximate factors that are boosting the effective spending power of rural households, the RBI bulletin states.

Consumption patterns revealed in the survey show that the share of conveyance, medical expenses and consumer services exceeds that of cereals in the rural MPCE. These developments have spurred hope that rural India is catching up with its urban counterpart and convergence can be envisaged, according to the report.

The rural recovery is yielding better results for companies in the fast-moving consumer goods (FMCG) segment, with earnings upgrades boosting stock valuations. This is reflecting an improvement in sales volumes as inflation haltingly moderates. Manufacturing is also gaining pace, with the purchasing managers’ index (PMI) having exceeded its long-run average in June on the back of new orders.

Manufacturing is a key pillar of the drive towards achieving higher levels of development, with its share needing to reach 20-25 per cent of GDP in order to establish India as a global manufacturing hub. This will boost employment in crucial sectors such as electronics, pharmaceuticals, textiles and automobiles while giving Indian products an internationally competitive cutting edge, the report adds.

The bulletin also states that global economic activity appears to be strengthening across advanced economies and emerging market economies and global trade in goods and services is gathering momentum which augurs well for India’s exports. On the back of exports of close to $780 billion in 2023-24 and a cumulative rate of expansion of 10.2 per cent in the first quarter, India is better prepared in 2024-25 to achieve exports of over $800 billion, it adds.

(IANS)

ShareTweetSendSharePinShareSend
Previous Post

Suryakumar Named Captain For T20I Series Against Sri Lanka; Rohit To Lead In ODIs

Next Post

Shifting Of Inner Ratna Bhandar Valuables Completed; Tunnel Talks, A Rumour

Related Posts

Adani Group
Business

‘Baseless, Mischievous’: Adani Group Denies Report Of US Probe Into Alleged Iranian LPG Links

June 2, 2025
Business

India, Japan Agree On Deepening Maritime Ties

June 2, 2025
Business

India’s Coal Production Rises 3.4 Per Cent To Cross 86 Million Tonnes In May

June 2, 2025
Washington, DC : Prime Minister Narendra Modi in a bilateral meeting with Tesla CEO Elon Musk at Blair House, in Washington, DC on Thursday, February 13, 2025. (IANS)
Business

Tesla Has To Manufacture In India, PM Modi And Elon Will Work It Out Soon: Errol Musk

June 2, 2025
Business

Way To Go: Elon Musk’s Father Errol Hails India’s Electric Car Scheme

June 2, 2025
Business

India Inc Posts Stable Q4 Performance Amid Global Headwinds: Report

June 2, 2025
Next Post

Shifting Of Inner Ratna Bhandar Valuables Completed; Tunnel Talks, A Rumour

Hezbollah Military Official Killed In Israeli Airstrike

No House Will Be Damaged During Anti-Encroachment Drive: Maha Dy CM

Khimji
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.