Rural Economy

I think we all know that an economic system is a system of production and exchanging of goods and services and also allocating of resources in a society.
Indian economy is the type of mixed economic system in which both private sector and state direct the economy, reflecting characteristics of both market economies  and planned economies. Example: India, which adopted mixed economy, but with public sector predominance till 1991.
Indian economy is one of the world's most thriving and promising economies. And 68.84% of India's population living in rural areas. The people in these areas are using cash transactions till now.
It is the Government responsibility to provide basic necessities in rural areas and focus on developing infrastructure.
The people in these areas, don't have any awareness about cashless transactions. So, the government should encourage them towards cashless or digital transactions by conducting various awareness programmes through schools, colleges, panchayats etc.
Over 93 per cent of people in rural India have not done any digital transactions.
Many people in rural areas are illiterate, so it is the Government duty to make them literate.
Now, the Government of India has announced zero balance accounts for poor people.
We get three indirect benefits from promoting 'cashless transactions' in India. These are - Possible Financial Inclusion, it will keep records of financial transactions and lower transaction costs.
To achieve financial inclusion, every household should have access to a bank, mere physical access to a bank is, of course, not sufficient.

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