RURAL
Retired army personnel drowns in Pune waterfall a day after Lonavala tragedy
A day after the tragic incident in Lonavala, where five people drowned near Bhushi Dam, another heartbreaking event occurred in Pune. Swapnil Dhawade, a 38-year-old retired army personnel from Pimpri Chinchwad, was swept away by strong currents while trekking in the Tahmini Ghat area. His body was found two days later in Mangaon, Raigad district, adding to the monsoon season's growing list of casualties in Maharashtra's Western Ghats.
Staff associations of mainstream lenders and regional rural banks at loggerheads over merger proposal
The All India Regional Rural Bank Employees Association strongly opposes the merger proposal, citing concerns about the treatment of RRB employees and the lack of tangible benefits from such mergers. They assert that the proposed merger is objectionable and anti-employee, highlighting historical mistreatment by larger banks and the absence of real relief for RRB staff.
Despite NTR's cajoling, Venkaiah Naidu Garu stayed with BJP & helped it grow in Andhra Pradesh
Celebrating the 75th birthday of Shri M. Venkaiah Naidu Garu, former Vice President, known for dedication to public service. His journey reflects adaptability and commitment. Venkaiah Garu's eloquence and focus on developmental issues earned him respect. Originating from Andhra Pradesh, he contributed to key initiatives, served in national politics, and promoted Telugu culture.
Third eye: Smoking out the plot, difficult to fathom, and bamboo business
He began by saying that in his childhood he wanted to be like Dhirubhai Ambani but was "very mischievous" and used to "steal money to smoke beedis till he collapsed" and all that was when he was in the "fourth standard". Shivtare's speech has raised a lot of eyebrows and it joins a long list of gaffes by Shiv Sena leaders.
"Consider him my true comrade who was tested in fire of Emergency": PM Modi hails Venkaiah Naidu in his virtual address
Prime Minister Narendra Modi described former Vice President of India, Venkaiah Naidu as his true comrade who was tested in the fire of Emergency imposed by Indira Gandhi in 1975.
Hamara gaon, hamara digital push
While smartphone adoption among low- and moderate-income (LMI) communities is growing, usage is limited to social media and messaging apps. This indicates that critical challenges continue to hinder the use of digital payments for close to 1 bn LMI people, especially women and people from marginalised communities.
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Bank Unions write to Finance Minister for merger of RRBs with Sponsor Banks
The merger of Regional Rural Banks with Sponsor Banks, as demanded by bank unions, aims to enhance efficiency, viability, and sustainability in the banking sector. This strategic move will not only improve employee skills and governance but also mobilize deposits, streamline credit delivery, and benefit the rural population significantly.
Competitive intensity in used vehicle market to be on the rise: India Ratings
India Ratings and Research predicts that vehicle financiers will increase the share of used vehicles in their AUM due to rising new vehicle prices, food inflation, heat wave, moderation in capacity utilization due to elections, and slowing rural economy. The agency also expects a decrease in FY25 growth rates from FY24 levels. The agency expects non-bank finance companies to focus on used vehicles as assets class, presenting a favorable risk-return in terms of asset quality and pricing power.
15 rural theme stock ideas with upside potential of over 18%
For the first time in five quarters, rural demand has outpaced urban demand. Rural volume growth was 7.6% in Q1CY24 vs 5.7% urban volume growth in the same quarter reflecting the evolving rural market dynamics. Domestic brokerage firm, Way2Wealth believes that the expectation of better monsoon and rural policy push by the government can lead to sustainable growth in the coming quarters, thus driving rural demand and economy. Recognizing the significance of the rural market, which still accounts for 65% of the country’s population, Way2Wealth listed 15 picks involved in the rural sector:
RSS-affiliate union seeks extension of mandatory work under MGNREGA to 200 days in pre-Budget meet
BUDGET EXPECTATION: In its pre-budget meeting with the finance minister Nirmala Sitharaman on Monday, BMS general secretary Ravindra Himte demanded increasing the minimum pension under the Employees’ Pension Scheme (EPS), 1995 from Rs 1,000 to Rs 5,000 while enhancing of honorarium of scheme workers, especially for Asha, Aanganwadi, Mid-day Meal and National Health Mission workers, the central trade union said in a statement issued on Tuesday.
Government focus on agriculture, rural income to sustain tractor demand: Swaraj Engines
The government's agricultural focus in India, along with initiatives to boost rural incomes, is expected to sustain tractor demand despite a 7 per cent industry sales decline reported by Swaraj Engines Ltd. The company's annual report highlights opportunities in the horticultural segment and factors like increased affordability, demand for farm mechanisation, and government efforts to improve agriculture. Swaraj Engines foresees its engine business aligning with the industry's growth trajectory.
Third Eye: Chasing fertile pastures, Sidda’s U-turn on fuel hike, and a no-show in Paris
Deputy CM DK Shivakumar, Karnataka Congress' strongest Vokkaliga face, is considering throwing his hat in the by-election ring. With Bengaluru rural seat, of which his assembly seat Kanakapura is a part, having delivered a resounding "no" to his brother DK Suresh in the Lok Sabha election, it will be interesting to see how the region responds to DKS walking away from it for more fertile Vokkaliga pastures.
Retail inflations for farm, rural workers remain almost flat in May
Retail inflation for agricultural labourers and rural workers in India remained flat at 7.7% and 7.02% in May, respectively, compared to 7.03% and 6.96% a month ago. The point-on-point inflation rate for CPI-AL was recorded at 7.0% in May 2024, while for CPI-RL, it was at 7.02%. The main items driving the indices were vegetables, pulses, wheat, onion, milk, turmeric, ginger, fish fresh, jowar, pan leaf, medicines, shirting cloth, saree, and leather chappal.
India lives in its villages, rural development remains priority: Shivraj Chouhan
Shivraj Singh Chouhan, the new Rural Development minister, highlighted the government's focus on rural development and the 'Lakhpati Didi' scheme to empower women to earn Rs 1 lakh annually.
Green shoots seen in rural demand: Wipro Consumer CEO
Vineet Agrawal, CEO of Wipro Consumer Care and Lighting, noted positive signs of growth in rural demand and anticipates a recovery in the hinterland by September, supported by favorable monsoon conditions and a successful harvest. Furthermore, he suggests that stable government policies could potentially boost sales of discretionary products through continuity and consistency.
Heart's in hinterland, want more lakhpati didis
New rural development minister promises efforts for welfare of rural India, focusing on increasing the number of 'Lakhpati Didis' to 30 million.
Rural jobs, roads, housing next on government radar
The government plans to construct 30 million houses under PMAY and is focusing on addressing rural distress to boost growth in private consumption expenditure and household savings.
Modi's Cabinet: 4-time MP CM Shivraj Singh Chouhan gets Agriculture and Rural Development Ministries
Shivraj Singh Chouhan, a veteran leader and four-time Chief Minister of Madhya Pradesh, has been assigned the Ministry of Agriculture and Farmers' Welfare, Ministry of Rural Development, and Ministry of Panchayati Raj portfolios. Known as 'mama' and 'paon-paon wale bhaiya', Chouhan's appointment as the Union Agriculture Minister is expected to bring fresh impetus to government efforts in addressing the challenges faced by the agriculture sector and the farming community.
Work in agriculture, rural development to continue, despite new minister: Shivraj Singh Chouhan
New Agriculture and Rural Development Minister Shivraj Singh Chouhan emphasized the government's commitment to farmer welfare and rural development. He highlighted the progress made in these areas over the past decade and assured that the work will continue at a consistent pace. Chouhan's first decision was to release funds for the PM Kisan scheme, demonstrating the government's priority for farmers' income. He met with officials from both ministries to discuss ongoing projects and initiatives.
Modi 3.0 kicks off with focus on farmers, poor
PM Narendra Modi released funds for farmers and approved 30 million houses for the poor on his first day of the third term. He emphasized team spirit, involvement of ministers in work decisions, and advised against giving sermons.
PM Modi shows rural bent, OKs ₹20kcr for PM Kisan Nidhi Scheme
The Prime Minister approved the 17th instalment of the PM Kisan Nidhi Scheme, benefiting 93 million farmers with around ₹20,000 crore. This move is seen as a boost to rural demand and consumer stocks. The new coalition government is expected to focus more on rural welfare, signaling a shift towards consumption-focused policies. Rural markets have shown growth, outpacing urban markets for the first time in five quarters, indicating a positive trend for the FMCG sector. The PM emphasized the government's commitment to farmer welfare and agriculture.
Abneesh Roy's top four stock picks for strong returns over next year
It is a coalition government and in the past we have seen that whenever that happens spends on the rural do increase. Please note that in the coming months, there are three-four key state elections also. So, we do expect that farm subsidy, farm support programmes will see a higher outlay rather than just a pure play capex, infra spends.
How brands should inspire politicians to move away from 'divide' and 'drown’ to ‘unify' and 'thrive’
Political parties should be emulating those marketers who have already cracked New India. To narrow-cast our population as a fundamental oneness, courtesy technology and aspiration. Then to engage experientially, with customer-centric regional empathy.
Rural vote fall cost Modi a decisive election win
In last month's election, BJP lost a third of its rural parliamentary constituencies, reflecting rural discontent over lack of jobs and high inflation. This cost the ruling party its majority in parliament, forcing Modi to rely on regional allies to govern. The BJP retained only 126 of the 201 rural seats it previously held. Issues like rural distress and economic disparities were cited by voters.
Demand under rural jobs scheme eases again in May
Demand for work under India's rural job guarantee scheme, MGNREGS, dropped for a seventh consecutive month in May, signaling improved economic conditions at the start of the fiscal year. About 37.46 million individuals sought work, down 12.1% from the previous year, with 27.18 million households seeking work, a 14.3% drop. The trend is attributed to better-paying job opportunities and the impact of heat waves across the country, although the data is subject to revision.
Rural demand theme blooms
Investor money is shifting to defensive shares like FMCG, healthcare, and information technology following the lower-than-anticipated seats for the BJP in recent elections. Marico, Godrej Consumer, Nestle India, ITC, Britannia, HUL, and Dabur saw significant gains. The Nifty and NSE FMCG Index also rose.
NDA performs strongly in metros while INDIA bloc dominates rural areas
NDA shows strength in metro cities like Delhi, Bangalore, and Pune in Lok Sabha elections. Mumbai region defies trend. INDIA bloc excels in rural areas, while BJP dominates in Delhi and Bangalore.
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