Business Daily from THE HINDU group of publications
Wednesday, Feb 18, 2009
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Business Daily from THE HINDU group of publications Wednesday, Feb 18, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Economy Industry & Economy - Economy Bottom of the pyramid demographics 
Sudhanshu Ranade Chennai, Feb. 17 About 75 per cent of the country’s population lives in villages but agriculture accounts for only 20 per cent of GDP. Even today people never hesitate to trot out this tired old line to dramatise the plight of ‘farmers’. This is a telling comment on one or more of the following: the slipshod research of our economists, the astuteness of our politicians, and since only the landed are committing suicide, not the landless, the zeal of the agit-prop brigade. According to the National Sample Survey data on consumption expenditure for 2004-05, total annual non-food expenditure by the bottom two-thirds of the rural population exceeded the corresponding Rs 59,000-crore figure for urban India by 41 per cent. Interestingly, there was a much larger (88 per cent) gap between the Rs 92,000-crore annual expenditure on non-food items by the middle one-third of India’s population and the Rs 49,000 crore spent by the lowest one-third.
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