In: Economics
Explain how you felt when you read the story of RICEUP. Give your insights, understanding or opinion about it thru an essay.
Answer : Riceup refers to social enterprise project which is good initiative for agricultural development. This basically helps farmers to coordinate with households in order to eliminate middleman who fetch large portion of income thus this helps in preventing exploitation of farmers. Agricultural development is key for economic development as agriculture act as backbone of economy. This sector provides raw materials to Industrial sector and fulfil daily needs of households. This app helped in increasing earning of farmers from $70 per month to $700 per month. This is good sign of rise in living standards of farmers. It also provides new innovative techniques of farming and thus literate farmers digitally. Thus in this way Elvin provides compensation to farmers for their hard work in agricultural sector. Elvin have keen interest in finding innovative strategies in order to uplift living of farmers. With above techniques , it strongly aimed at making farmers self reliant and financially independent.
Hence concluded that it is good initiative by Elvin of agricultural development of economy.
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