State of Indian Agriculture and Policy Challenges Ahead

While progress or development in agriculture sector is per se desirable and critical to an economy in many contexts, the motivation at least in the context of India has to be the welfare of the millions of farmers and workers engaged in farming. Farmers are arguably the most vulnerable segment of our society in terms of income and livelihood support even though they have a powerful asset in the farm of cultivable land. The vulnerability associated with farming is well-known and owes to idiosyncratic as well as covariate risks. If one calculates return to farmer in the same way as returns to financial assets, the picture of their relative poor conditions will become manifest. Agricultural policy challenge can be best understood through reference to Jan Tinbergen postulate of matching policy instruments with policy objectives. Price policy of the government for the agricultural produce seeks to ensure remunerative prices to growers in order to encourage higher investment and production and simultaneously seeks to safeguard the interests of consumers by making available food supplies at reasonable prices. The lecture focuses on this key policy challenge and the option to resolve the conflict without affecting macroeconomic outcomes and in a sustainable manner so that the interests of all stakeholders are protected.

Lecture by :
Dr. K.L.Prasad
Principal Adviser (Secretary level), Ministry of Agriculture & Farmers Welfare

This lecture is part of the refresher course - "Contemporary issues in Economics", conducted by the National Resource Centre, Shri Ram College of Commerce, SRCC, under ARPIT 2019 (Annual Refresher Programme in Teaching), as part of Pandit Madan Mohan Malviya National Mission on Teachers and Teaching of Ministry of Human Resource Development (MHRD), Government of India

You can find the details of the course at: https://bit.ly/2NAqQzb

Видео State of Indian Agriculture and Policy Challenges Ahead канала ARPIT National Resource Centre SRCC