Monday May 28, 2018
Home India SECC: 75 per ...

SECC: 75 per cent of rural households in India survive on less than Rs.5000

0
//
362
Republish
Reprint

New Delhi: For nearly 75 per cent of the 17.9 crore (nearly 180 million) households in rural India, the monthly income of the highest-earning member is less than Rs.5,000, even as close to 40 per cent are landless and work as manual casual labourers for their daily bread, latest official data reveals.

Image from www.secc.gov.in
Image from www.secc.gov.in

This is the finding of the Socio-Economic and Caste Census 2011 for Rural India released Friday which also shows that nearly 25 per cent of the rural households still do not own a phone despite India boasting a telecom subscriber base of around a billion.

Also, among the the fortunate families that actually own land, the dependence on rains for their crops is rather high, with 25 per cent having no access to irrigation, as per the Census released by Finance Minister Arun Jaitley.

Only 8.29 per cent of the rural households reported a member who was drawing more than Rs.10,000 per month, while for 17.18 per cent others the monthly earning was between Rs.5,000 and Rs.10,000 per month.

The latest Census covered all the 640 districts in the country in a paperless manner, using some 640,000 electronic handheld devices. The government on Friday released only the provisional data of the socio-economic Census for rural India.

The Census seeks to provide useful data on households on various aspects of their socio-economic status – housing, land-holding, education, women, the differently able, occupation, possession of assets, and members of scheduled castes and tribes.

In a bid to target government schemes better and ensure they the intended beneficiaries alone, it also provides for automatic exclusion of families on the basis of 14 parameters as also automatic inclusion on the basis of five criteria.

“The progress which households in India have made, who are the ones who have qualitatively moved up in terms of quality of life – a document of these will be an important input for all policy makers, both at the Centre and in the states,” Jaitley said.

“I am sure that with the enormity of the schemes and their reaches that all governments have, this document will form the basis of helping us to target groups to support in terms of policy planning,” the Finance Minister added.

Based on 14 parameters for families — which include criteria such owing a vehicle, possessing a kisan credit card, having a serving government member, drawing an income of Rs.10,000 per month, or owing a refrigerator — only 7.05 crore families (39.39 per cent) stand to be excluded.

Similarly, based on five parameters — households without shelter, those living on alms, manual scavengers, primitive tribals and legally released bonded labourers — 16.50 lakh families are eligible for automatic inclusion.

ArunJaitley

At the same time, 10.69 crore (over 100 million) of rural families, or 60 per cent, qualify for “deprivation” based on seven criteria — which include those with one room, kuccha walls, no member in 18-59 age group, no literate adult above 25 years and landless households.

Among them, while 21.5 per cent belong to scheduled castes or tribes, 23.5 per cent are without a literate adult above 25 years of age. This apart, 30 per cent are landless households deriving a major part of their income from manual labour.

(IANS)

Click here for reuse options!
Copyright 2015 NewsGram

Next Story

Is investing in Bitcoin safe? Get the basics first!

0
//
47
India has not legitimized bitcoin, hence investment returns are totally based on demand i.e. you get your return only if there is another buyer in the market who is ready to pay you more for it. Currently the high-value of the digital currency owes to its high demand, but once people start selling, there is a possibility that rates will drastically fall. Pixabay
India has not legitimized bitcoin, hence investment returns are totally based on demand i.e. you get your return only if there is another buyer in the market who is ready to pay you more for it. Currently the high-value of the digital currency owes to its high demand, but once people start selling, there is a possibility that rates will drastically fall. Pixabay

With the fussy mania of Bitcoin going around and past, your eyes and ears, in the news and peer discussions, you must be having some basic questions about it: What is bitcoin? Is it legal? How can I get it? But most of all, you must be thinking, ‘Is investing in Bitcoin safe?’

Let’s find out!

Pluto Exchange has launched first app that will trade in bitcoins in India
Pluto Exchange has launched the first app that will trade in bitcoins in India. Wikimedia commons

ALSO READ: Bitcoin Worth Millions Stolen Days Before US Exchange Opens

Clearing the basics

  • Bitcoin is the first ever cryptocurrency that existed, it was invented in 2009 by Satoshi Nakamoto.
  • Cryptocurrencies are nothing but computer codes that have monetary value. No Government has any control over them.
  • Bitcoins ‘self-contain’ their value i.e. there’s no need for any bank to move or store the money.
  • Bitcoin currency is completely unregulated and decentralized.
  • Bitcoins are mined, and they can be mined by anyone in the general public who has a strong computer. However, only 21 billion of bitcoins in total can be mined. Currently, there are around 11 million in circulation.
  • Bitcoin has no underlying physical monetary base to support its value, and it is totally subject to its demand in the market.

What are the risks?

  • Low demand: India has not legitimized bitcoin, hence investment returns are totally based on demand i.e. you get your return only if there is another buyer in the market who is ready to pay you more for it. Currently, the high-value of the digital currency owes to its high demand, but once people start selling, there is a possibility that rates will drastically fall.
  • Unregulated: There is no bank or government tax agency that can track your money and its movement. Hence, it can become a tool for money laundering.
  • Irreversible transactions: There is no insurance protection of your bitcoin wallet i.e. if you lose your wallet’s hard drive data or even your password, your wallet’s content is gone forever.
There is no insurance protection of your bitcoin wallet i.e. if you lose your wallet’s hard drive data or even your password, your wallet’s content is gone forever. Pixabay
There is no insurance protection of your bitcoin wallet i.e. if you lose your wallet’s hard drive data or even your password, your wallet’s content is gone forever. Pixabay

ALSO READ: How can you trade in Bitcoin in India?

Status of Bitcoin in India

Finance minister Arun Jaitley highlighted in a statement that cryptocurrencies are not legal tender and have no regulatory permission or protection in the country.

However, there was no announcement banning or imposing any curbs on the same. The government panel is also awaiting a report on tackling cryptocurrencies in India, Jaitley said.

The government has recently cautioned investors to be wary of virtual currencies like bitcoin, saying they are like Ponzi schemes with no legal tender and protection.

“One of the features of cryptocurrency is that there is lack of dependence on the state. It functions with a degree of anonymity. It operates within a virtual community which is created and enjoys the trust of that virtual community,” Finance Minister Arun Jaitley told the Rajya Sabha.

“The government is examining the matter. A Committee under the chairmanship of the Economic Affairs Department Secretary is deliberating over all issues related to cryptocurrencies to propose specific actions to be taken… Instead of taking any knee-jerk action, let’s wait for the report of this committee.” Jaitley added