A STUDY OF THE INDIAN RURAL VS. URBAN SECTOR WITH REFERENCE TO MASLOW’S NEED HIERARCHY THEORY: RURAL VS URBAN ECONOMY(1)

A rural economy substantially depends on land and agriculture. On the other hand, an urban economy substantially depends on any one or a combination of industry, trade and commerce. If we want to develop a rural economy we should develop land and agriculture. The land and agriculture development would increase income of the rural population whereby they would tend to raise their living standard by letting urban amenities, facilities and traditions enter in their life. Whatever the high level of living standard is achieved there on the basis of increased income generated on account of land and agriculture development, the economy remains rural, all the same. It becomes developed but is not converted into an urban economy. A study conducted by the Students of School and Management Studies in 2010 revealed that most of the children die in rural area not due to malnutrition but due to lack of health awareness. The status of urbanization is not well achieved in India except in the metro cities like Mumbai, Chandigarh, Gurgaon, Bangalore, New Delhi etc. Due to globalization the face of the Indian villages is changing, they are becoming aware of their rights, needs and status. It is necessary to identify the presence of disparities and differences in the growth of the rural and urban sector. India is not only culturally diversified but has a rich source of talent, creativity, skills that can be nurtured into productive activity.

Rural India is centered for growth in the near future. However, it suffers from lack of basic infrastructure. Having a vicious poverty circle and the absence of adequate infrastructure- water, electricity, transportation, house hold goods, market access to rural population prevents rural India from undertaking activities that can accelerate economic growth. The two third of India’s consumers live in rural areas and little more than half of the income is generated. Numerous studies over the World have revealed that investments in rural sector through government programmes and Non government Organisations can enhance activities to reduce poverty. Poverty is most prevalent in the states of Orissa, Bihar, Uttar Pradesh and Madhya Pradesh and least prevalent in Haryana, Punjab and Himachal Pradesh, Jammu and Kashmir. Housing and the ancillary utilities of sewer and water systems problems are most prevalent in India. Investments in road, telecommunications, power supply, drinking water facilities, schools and health care facilities can lead to empowerment of villagers. Therefore, through identifying the level of needs of an individual folk achieved on the basis of Maslows Need Hierarchy Theory, we can easily assess their degree of empowerment.

Representative APR 391%

Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

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