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National Rural Economic Transformation Project

Topics Covered:

  1. Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes; mechanisms, laws, institutions and bodies constituted for the protection and betterment of these vulnerable sections.

 

National Rural Economic Transformation Project

 

What to study?

For Prelims and Mains: Key features and significance of the proposed project.

 

Context: India has signed a $250 million loan agreement with the World Bank for the National Rural Economic Transformation Project (NRETP) that aims to help women in rural households shift to a new generation of economic initiatives by developing viable enterprise for farm and non-farm products.

 

National Rural Economic Transformation project:

  1. The National Rural Economic Transformation project is additional financing to the $500 million National Rural Livelihoods Project (NRLP) approved by the World Bank in July 2011.
  2. The project will support enterprise development programs for rural poor women and youth by creating a platform to access finance including start-up financing options to build their individual or collectively owned and managed enterprises.
  3. The project will involve developing financial products using digital financial services to help small producer collectives scale-up and engage with the market.
  4. It will also support youth skills development, in coordination with the Deen Dayal Upadhyaya Grameen Kaushalya Yojana.

 

Sources: the hindu.