By IANS,
Kolkata: President Pratibha Patil Wednesday said development and modernisation of rural India is a must to ensure the country’s rapid yet inclusive growth and stressed on the integration of the village economy into the mainstream.
“Indeed, the development and modernisation of rural India is a must to ensure India’s rapid yet inclusive growth,” Patil said in her inaugural speech at the 37th National Management Convention here.
The president said about two-thirds of the country’s population lives in rural areas but their total share in India’s gross domestic product is less than one-third.
“It is for this reason that I firmly believe that our rural economy must be integrated into the mainstream with other sectors of the economy. I also believe that agriculture in India needs a fresh approach to enhance its productivity and profitability,” Patil said.
She said increased corporate investment in “this key sector” of the economy could offer a new frontier of growth in rural areas.
The president stressed that industry partnering with agriculture, particularly in rainfed areas, could result in a “win-win option”.
“Moreover, financial inclusion is an area where I would encourage India’s credit institutions and regulatory authorities, to put forth a synergised effort,” Patil added.