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Importance Of Rural Entrepreneurship

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4. NEED OR UTILITY OF RURAL ENTREPRENEURSHIP

In a globalized world and even after industrialization, still large part of population in rural area live in below poverty line. The agricultural sector till continue to be the backbone of our economy and our society too. One of the negative results the agriculture workforce is that this sector is overcrowded as far as employment is concerned (Saxena, 2012) Entrepreneurship in rural areas is finding a distinctive blend of resources, either inside or outside of agriculture. This can be achieved by widening the base of a farm business to include all the non-agricultural uses that available resources can be put to or through any major changes in land use or level of production other than those …show more content…

The government 's assumption is that encouragement for innovation will promote enhancement entrepreneurship, which will in turn accelerate the growth of rural economy. Many initiatives have been taken by the government of India towards strengthening the innovation ecosystem, the most important of which are: i) the establishment of the National Innovation Council, (Decade of innovation) whose mandate is to promote various innovation-related activities, and ii) the new Science, Technology and Innovation Policy 2013, which is projected to support entrepreneurship and science-led solution for sustainable and wide-ranging growth (Abhyanker, …show more content…

Socio-economic conditions of the rural population have been improved by promoting rural entrepreneurship. Entrepreneurship is often considered as the search of new idea,, creativity, the establishment of new organizations or activities, or something new. To bring a change in rural sector, The policy makers need to focus on balance between Education (including modern vocational education training/skill development), Innovation (converting ideas into wealth and employment) and Entrepreneurship should be promoted. This paper focuses upon the role played by rural enterprises through the process of innovation in rural economic growth and how government agencies help to foster rural enterprises and promote innovation through policy initiative for entrepreneurship development. Policy implications for the promotion of rural entrepreneurship can be summarized as: (a) Sound national economic policy with respect to agriculture, including recognition of the fundamental contribution of entrepreneurship to rural economic development; (b) Policies for special programs for the technical and vocational skills and channeling of entrepreneurial talent; (c) Entrepreneurial thinking about rural development, not only by farmers but also by everyone and every rural development

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