Key Points
Highest increase in MSP was in moong by 10.4 per cent at Rs 8,558 per quintal...
Two-wheeler retail sales, a proxy for rural demand, in FY23 fell to a seven-year low and tractors saw the slowest growth pace among all segments, reflecting inflations adverse impacts on rural India..
However, two-wheelers sales rose for a second quarter in a row in the March quarter, indicating a turnaround in consumer sentiment in rural markets where demand has been under pressure the last couple of years..
The RBI has said in its monthly bulletin that India's growth in the April-June quarter is likely to be driven primarily by private consumption, supported by reviving rural demand on the back of the encouraging developments in both the kharif marketing season of 2022-23 and the Rabi marketing season of 2023-24,..
The latest hikes in MSP for Kharif crops will boost the nascent growth in rural demand by putting more money in the hands of farmers, thus improving consumption...
