Credit score, Insurance Among Key Challenges For Doubling Farmers’ Source of revenue: Economic Survey
Fundamental demanding situations like credit score, insurance plans and irrigation wish to be addressed. (Representational)
New Delhi:
To reach the objective of doubling farmers’ source of revenue via 2022, the Economic Survey on Friday mentioned there may be an pressing wish to deal with one of the crucial elementary demanding situations like credit score, insurance plans and irrigation amenities within the agriculture and its allied sectors.
There could also be a wish to reallocate the labour assets to different sectors, give larger center of attention on exploring international markets for agricultural commodities but even so supplementing efforts of farmers with direct source of revenue reinforce, it mentioned.
“The realisation of the target of doubling farmers’ source of revenue necessitates addressal of one of the crucial elementary demanding situations of agriculture and allied sector,” in line with the Economic Survey 2019-20 tabled in Parliament.
Problems equivalent to funding in agriculture, water conservation, stepped forward yields via higher farming practices, get right of entry to to marketplace, availability of institutional credit score, expanding the linkages between agricultural and non-agricultural sectors want pressing consideration, it mentioned.
Consistent with the survey, the protection of irrigation amenities must be prolonged whilst making sure an efficient water conservation mechanism.
An inclusive option to provision for agricultural credit score must be undertaken to handle the problem of skewness in its regional distribution, it mentioned.
As the percentage of small and marginal holdings is considerably massive, land reform measures like releasing up land markets can lend a hand farmers enhance their source of revenue.
The Survey additional mentioned allied sectors, equivalent to animal husbandry, dairying and fisheries, wish to be given a spice up to offer an confident secondary supply of employment and source of revenue, particularly for small and marginal farmers.
Given the truth that the cattle sector has grown at a compound annual enlargement fee of just about eight in keeping with cent during the last 5 years, it assumes a very powerful position in source of revenue, employment and dietary safety, it mentioned.
“Farm animals source of revenue has transform a very powerful secondary supply of source of revenue for tens of millions of rural households and has assumed as vital position in attaining the purpose of doubling farmers’ source of revenue,” the Survey added.
The survey mentioned there could also be a wish to deal with the problem of decrease farm mechanisation in India which is handiest about 40 in keeping with cent as in comparison to about 60 in keeping with cent in China and round 75 in keeping with cent in Brazil.
As a well-developed meals processing sector guarantees higher go back to the farmers and promotes employment, the Survey mentioned “extra focussed consideration” is needed to be given to the sphere to its important position in decreasing post-harvest losses and introduction of extra marketplace for farm outputs.
The meals processing sector is rising at a mean annual enlargement fee of greater than five in keeping with cent during the last six years ended 2017-18, it added.