An-Najah News - Even India is the second-worst-hit by the coronavirus pandemic nation after the US, with more than eight million reported infections. Indian government officials say, pinning its hopes on the agricultural sector to boost the country’s economy that has been hurt by the Covid-19 crisis.
The government’s decision to raise support prices for some crops and boost spending on rural employment programs has also supported the incomes of farmers and laborers.
Statistics show rural incomes in India have stayed strong and the production of monsoon-sown food grains is estimated to hit a record 144.5 million tons.
Some companies reported high demand for their services and products in rural areas, including automobiles, cement, steel, tires, and jewelry.
“Despite Covid-19 and the related lockdown, the agricultural activities across the country have almost remained unaffected.
This has raised the hope that rural demand could drive the economic recovery,” said India Ratings and Research, a unit of Fitch Ratings.
According to India Ratings and Research, rural demand may not be able to offset the shortfall in urban demand from 2012 to 2020.