Rural Wages Data : RBI
Data from the Reserve Bank of India highlights stark differences in rural wages across different states in India, showcasing significant disparities in earnings for farm and non-agricultural workers.
Highlights of the Rural Wages Data by RBI:
- During the fiscal year 2021-22, the rural economy faced challenges due to the Covid-19 pandemic affecting employment and income levels.
- In the fiscal year 2022-23, elevated inflation rates and increased interest rates significantly disrupted rural demand.
- These factors heavily impacted job opportunities and income stability in rural areas across the nation.
- Rural wages in Madhya Pradesh for agricultural and non-agricultural workers are significantly below the national average standing at Rs 229.2 and Rs 246.3 daily, respectively, impacting the livelihoods of rural families.
- Kerala boasts the highest wages across various sectors, with rural farm workers earning Rs 764.3 per day.
- In case of wages for rural construction workers too, Kerala and Madhya Pradesh stand at opposite ends of the spectrum at Rs 852.5 and Rs 278.7 daily, respectively.
- National Average Wages:
- Agricultural workers: Rs 345.7
- Non-agricultural workers: Rs 348
- Construction workers: Rs 393.3
- Despite some wage growth peaks in 2022-23, rural income prospects remained subdued, stagnating the real rural wage growth and indicating an incomplete recovery in the unorganized segment of the economy.