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Rural development encompasses strategies aimed at improving the living conditions and economic opportunities for those residing in rural areas. Emphasis is placed on the importance of enhancing agricultural productivity, diversifying rural economies, and addressing the infrastructural deficits that hinder growth. Key components include credit systems, marketing strategies, and promoting sustainable practices such as organic farming to ensure a more productive and resilient rural economy.
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Term: Rural Development
Definition: A comprehensive term referring to actions aimed at advancing the economic and social conditions of rural areas.
Term: MicroCredit
Definition: Small loans provided to impoverished borrowers lacking access to traditional banking services, aimed at promoting entrepreneurship and improving livelihoods.
Term: Organic Farming
Definition: An eco-friendly approach to agriculture that avoids synthetic chemicals and focuses on sustainable practices.
Term: Credit System
Definition: Financial mechanisms particularly aimed at providing farmers and rural entrepreneurs with the capital necessary to invest in agricultural production and business ventures.
Term: Agricultural Marketing
Definition: The process involving the sale and distribution of agricultural products, which is crucial for farmers in achieving fair prices for their produce.
Term: Diversification
Definition: The process of expanding into new agricultural products or non-farm activities to reduce risk and ensure a steady income.