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Demonetization Made Rural Wage Growth Drop to a Mere 0.45% from 11% in Three Years: Report
September 03, 2018
As per a new report by India Ratings, the rural wage growth plummeted to a paltry 0.45% during the financial years 2016-18 from the average rate of 11% during the financial years 2013-15. It said that, despite government support, rural wage growth dropped significantly due to the negative impact of demonetization.
The report which is based on the analysis of 25 different types of occupations in the rural areas said that although the government is making efforts towards improving rural employment and increasing rural wage, it has been able to only prevent the wage growth from decreasing further rather than strengthening the sector in any concrete way.
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