Morning Brief: Rural Household Income Up 58 Per Cent In Five Years; Rahul Gandhi Blames Haryana Leaders For Loss; Festive E-Com Sales Hit Record $6.5 Billion In One Week

Average Monthly Income Of Rural Households Rises 58 Per Cent

The average monthly income of rural households rose nearly 58 per cent over five years, increasing from Rs 8,059 in 2016-17 to Rs 12,698 in 2021-22, according to a recent survey by the National Bank for Agriculture and Rural Development (NABARD). Agricultural households earned slightly more, with an average monthly income of Rs 13,661, compared to Rs 11,438 for non-agricultural households.

Salaried employment in government or private sectors was the primary income source for all households, making up about 37 per cent of their total income.

The average monthly expenditure for rural households also increased significantly, rising from Rs 6,646 in 2016-17 to Rs 11,262 in 2021-22.

Additionally, the annual average financial savings rose to Rs 13,209, with 66 per cent of households reporting savings in 2021-22, up from 50.6 per cent in 2016-17.

Rahul Gandhi Blames Haryana Congress Leaders For Election Loss

In a brief meeting with Haryana Congress leaders, Rahul Gandhi said that the selfishness of Haryana leaders contributed to the party's electoral defeat. Attending a review meeting led by party president Mallikarjun Kharge, Gandhi raised two significant points. He questioned the effectiveness of Electronic Voting Machines (EVMs) and the Election Commission, demanding a detailed report on the counting process.

However, his second point struck a nerve: he accused local leaders of prioritising their personal ambitions over the party's success, suggesting that the election was winnable. Sources indicate that Gandhi's remarks were directed at all leaders, not just the Hoodas, leading to an uncomfortable silence in the room.

Festive E-commerce Sales Hit Record $6.5 Billion In Just One Week

Online marketplaces recorded sales of $6.5 billion (nearly Rs 55,000 crore) during one week of festive sales, reflecting a 26 per cent increase from last year. Mobile phones, electronics, consumer durables, and home goods made up about three-fourths of total sales during this period. The week starting September 26 accounted for approximately 55 per cent of the total expected ecommerce sales for this festive season, which is projected to reach $12 billion—23 per cent higher than last year's $9.7 billion.

Industry insiders noted that many online shoppers, particularly from smaller towns and cities, are purchasing higher-priced items and utilising EMI payment options. Major e-commerce players like Walmart-owned Flipkart and Amazon India kicked off their festive sales—Big Billion Days and Great Indian Festival—on September 27.

Other Developments

Noel Tata Emerges As Front-Runner To Succeed Ratan Tata

Noel Tata is emerging as the front-runner to succeed Ratan Tata as the patriarch of the Tata Group, driven by strong family connections and business experience. Executives cite three reasons for his potential candidacy: his successful leadership of Trent, his loyalty to Ratan Tata during the Cyrus Mistry controversy, and his marriage into the Shapoorji Pallonji Group, which could help mend ties with Tata Sons’ second-largest shareholder.

Observers note that Ratan Tata likely left clear succession instructions, favouring a family member given the historical precedent of Tata Trusts being led by the Tata family. Noel's track record in steering Trent (that runs Westside, Zudio, and others) to profitability amid fierce competition further strengthens his case, with the company's stock soaring by 172 percent in 2024, nearing a market capitalisation of Rs 3 lakh crore.

China Could Announce $283 Billion Stimulus Package

China is expected to announce up to $283 billion in new fiscal stimulus this weekend to support its struggling economy. Investors and analysts anticipate this announcement during a key briefing by the finance minister on Saturday, as indicated by a survey of market participants conducted by Bloomberg.

The government's focus will likely be on providing support to households rather than reviving growth driven by real estate and infrastructure investments. China has already lowered interest rates and increased support for the property and stock markets through a series of measures announced in late September.

However, investors are calling for fiscal interventions, which economists believe are essential for boosting confidence in the economy.

From The States

Maharashtra Govt Courts SC-OBC Voters Before Elections

The Maharashtra government has made a major outreach to SCs and OBCs ahead of the upcoming Assembly polls. The cabinet approved an ordinance giving constitutional status to the state SC Commission. It also proposed raising the creamy layer income limit for OBCs from Rs 8 lakh to Rs 15 lakh. The move comes after the Maha Vikas Aghadi’s victory in 30 of 48 Lok Sabha seats, shocking the ruling BJP-Shiv Sena-NCP coalition.

Caste dynamics played a key role in that win. Taking lessons from the BJP's recent victory in Haryana, the ruling BJP-Shiv Sena-NCP coalition is looking to counter that success by adjusting its caste strategy. The Assembly polls are expected later this year.

Naidu Backs Caste Census As It Looks Increasingly Inevitable

Chandrababu Naidu, a key BJP ally, has thrown his weight behind the caste census, a move gaining momentum across the political spectrum.

His support follows growing pressure from other BJP partners, such as Nitish Kumar’s JDU and Chirag Paswan’s LJP, who have also endorsed the idea that Congress leader Rahul Gandhi has been promoting with his 'jitni abadi, utna haq' campaign.

While the BJP has been hesitant, senior leaders like Amit Shah have not ruled it out. Shah recently mentioned that the delayed national Census will begin soon, and any decision on a caste census will be revealed at that time. The RSS has also backed the idea.

Pakistani Nationals Living Under Hindu Names In Bengaluru

The recent arrests of Pakistani nationals using false Hindu identities in Bengaluru's Jigani have exposed a concerning network of illegal immigration, raising serious national security issues. Karnataka Police apprehended 18 Pakistani nationals living illegally in Bengaluru, with an additional ten arrests following the capture of Parvez Ahmed.

This brings the total number of illegal Pakistani immigrants using false identities in southern India to 22, including four detained at Chennai airport in September. Parvez, identified as the main handler for these immigrants, was arrested while traveling from Mumbai, leading authorities to uncover more individuals living under fake identities in the state. The arrested individuals claim to be Sufis and followers of Ra Riaz Gohar Shahi, associated with the Mehdi Foundation, a banned outfit in Pakistan.