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Indian Economy

National Rural Economic Transformation Project

  • 20 Feb 2019
  • 2 min read

The Union Cabinet has approved the implementation of an externally aided project namely National Rural Economic Transformation Project (NRETP) under the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) through loan assistance from World Bank.

Note:

  • Deendayal Antyodaya Yojana - National Livelihoods Mission (NRLM) was launched by the Ministry of Rural Development (MoRD), Government of India in 2011.
  • NRLM has set out with an agenda to cover 7 Crore rural poor households, across 600 districts, 6000 blocks, 2.5 lakh Gram Panchayats and 6 lakh villages in the country through self-managed Self Help Groups (SHGs) and federated institutions and support them for livelihoods collectives in a period of 8-10 years.
  • The Mission aims at creating efficient and effective institutional platforms of the rural poor enabling them to increase household income through sustainable livelihood enhancements and improved access to financial services.

Salient features

  • DAY-NRLM lays special emphasis on targeting the poorest of the poor and the most vulnerable communities and their financial inclusion.
    • Innovative projects will be undertaken under NRETP to pilot alternate channels of financial inclusion, creating value chains around rural products, introduce innovative models in livelihoods promotion and access to finance and scale-up initiatives on digital finance and livelihoods interventions.
  • DAY-NRLM provides for mutually beneficial working relationship and formal platforms for consultations between Panchayati Raj Institutions (PRIs) and Community Based Organizations(CBOs).
    • NRLM has also developed activity map to facilitate convergence in different areas of interventions where NRLM institutions and PRIs could work together which has been disseminated to all state Rural Livelihood Missions.

Benefits

  • The technical assistance provided by NRETP and the higher level interventions facilitated by the project will
    • enhance the livelihoods promotion and access to finance, and
    • scale-up initiatives on digital finance and livelihood interventions.
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