Goa’s Rural Economy Sees Unprecedented Growth in Entrepreneurship…
Panaji :
Goa’s rural economy is undergoing a remarkable transformation, with villages becoming key drivers of economic growth. The Minister for Rural Development, Shri Govind Gaude, unveiled a report on the state’s rural economy in Panaji, highlighting significant progress. The report shows an extraordinary 4,800% growth in disbursements from the Community Investment Fund (CIF), benefiting over 1,000 Self-Help Groups (SHGs), which has empowered them to scale their businesses and promote sustainable development.
The study, conducted by Tata Institute of Social Sciences (TISS) in collaboration with Goa Livelihoods Forum (GLF), reveals a 60% increase in households mobilized into SHGs since 2020. Additionally, the number of Village Organizations (VOs) has risen by 131%, while 50% of dormant SHGs have been revived. The shift towards non-farm livelihoods has been notably enhanced by state initiatives like the Start-Up Village Entrepreneurship Program (SVEP) and the Prime Minister’s Formalization of Micro Food Processing Enterprises (PMFME).
The report further highlights a 445% increase in Revolving Fund disbursements, benefiting 3,354 SHGs. Efforts to promote social inclusion have also been successful, integrating vulnerable communities, including the elderly and persons with disabilities, into livelihood activities.
Minister Gaude praised the Goa State Rural Livelihood Mission (GSRLM) and GLF for their pivotal role in driving these achievements. He emphasized the importance of studying the report, which offers valuable insights into Goa’s effective rural development model and its contribution to reducing the rural-urban consumption gap.
