Rural and Urban Demand Trends in India: Preparing for the 2024 Census and Economic Insights - Read Now
The Indian economy shows growth in rural demand while facing challenges in urban sectors. The Centre prepares for the 2024 Census amid political developments like Karnataka's internal quotas and insights from the BRICS Summit on India-China talks.
This edition of Daily Briefing discusses how the dynamic interaction of rural and urban demands impacts the Indian economy, looks ahead to one of the long overdue counts of 2024, and incorporates key happenings abroad.
GDP Growth Momentum
Union Finance Ministry: Its monthly economic report for September shows rural demand in India is growing. That 5.2 percent growth, on a quarter-over-quarter basis, occurred in the first quarter when volume is the most important-an improvement over last year when the figure had been 4 percent in that quarter. Such trends as MSPs of kharif crops, fast moving consumer goods, and the three-wheeler and tractor sales are reviving.
But the challenges lie in urban demand. High food inflation and moderated credit growth can pose headwinds to growth in the second quarter of FY25. Urban FMCG sales have fallen significantly, from 10.1% in Q1 of FY24 to 2.8% in Q1 of FY25. Auto sales have fallen 2.3% in the first half of FY25, mainly due to lower sales in urban areas.
Preparing for the Census 2024
The Centre is getting prepared for the postponed Census 2021 because of the Covid-19 pandemic. The Census will begin from 2024 and expected to be completed by 2026. Whether or not caste enumeration would feature in this exercise remains controversial. For the first time since its inception, this critical Census that would come up with demographic insights has been said to be pursued through traditional house-listing and population enumeration.
Political and Economic Insights
The Karnataka government has approved internal quotas for Scheduled Caste (SC) communities. This has been seen in the light of the necessity for empirical data in policy making. This comes at a time when discussions are underway about the economic implications of softening consumer sentiments that might influence the purchasing pattern during the festive season.
Here we reflect on the twilight years of cricket superman, Virat Kohli, as discourse on the challenges of aging in sports and his contributions to the game in changing times.
International Relations
Russia welcomes recent India-China talks at the BRICS Summit and supports unity in international relations. Political instability continues in Japan as the ruling coalition is facing serious challenges.