The government promised to provide more funding for rural schemes to remove suffering from unemployment.
For the current financial year, the Indian government is set to increase its funding for the Rural Development Ministry by 18%, to 1.60 trillion ($14.19 billion). The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA), the country’s only minimum job guarantee scheme that pays $2 to $3 a day, has seen an increase in demand despite India having allocated $1.36 trillion for various schemes in the areas of a country that are away from the coast or the main cities for the years 2022–2023. This is due to the stress in rural areas.
The official stated that the additional funds will be used to expand the job and affordable housing schemes in the financial year that ends in March 2023.
Earlier, the government allocated ₹730 billion for government schemes and ₹200 billion for housing schemes. On the employment initiative, it has already spent ₹632.6 billion, according to the website of the Rural Development Ministry.
After the pandemic, the rural sections of the nation were under pressure from rising costs and a lack of non-farm work possibilities, which pushed more individuals to join government job programs. According to statistics from the Centre for Monitoring Indian Economy, the rural unemployment rate has stayed over 7% for the bulk of the months of the current financial year, which began on April 1, 2022. (CMIE).
