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INDIAN AGRICULTURE SECTOR IN DOLDRUMS
Ramesh Krishna Vipparthi Lecturer, Department of Commerce,
and
Prashanth Vidya Sagar Thalluri Lecturer, Department of Library & Information Science
SCIM Government Degree College,
Tanuku, West Godavari Dist., A.P.,
Presented by
INTRODUCTIONMuch boasted Structural Reforms initiated by former Prime
Minister P.V. Narasimharao Government in early 1990s’ aiming to make Indian economy more market-oriented by expanding the role of private and foreign investment, have brought out sweeping changes across the nation creating many opportunities on one side and threats on the other, leaving a long list of winners and losers behind.
The agriculture policy has undergone fundamental changes raising serious concerns on the performance of agriculture sector in the country.
Now, we discuss the problems and reasons for deceleration in agriculture and enunciate the policies needed for revival of Indian agriculture.
STRUCTURAL REFORMS IN INDIAN ECONOMY: VOLUNTARY OR FORCED?Balance of Payments (BoP) problems in mid-1980s, made
India stood on the verge of bankruptcy by the end of 1990. Reserve Bank was forced to pledge 20 tonnes of gold to
Union Bank of Switzerland and 47 tonnes to Bank of England as part of a bailout deal with the International Monetary Fund (IMF).
India was forced to open gates for FDI investment into Information Technology (IT) and allied activities, Business Process Outsourcing (BPO), Research and Development (R&D) and knowledge management activities.
It made India second most attractive destination for FDI after China.
CONSEQUENCES AND IMPACTS OF GLOBALIZATION Exposure of domestic agriculture to
international competitionGrowth of non-agricultural sector and its
impact on demand for agricultural productsUrban middle class life-style changes
including diets, rising food imports in developing countries
Competitiveness and diversification of domestic production systems
Vertical integration of the food supply chain, etc.
OSCILLATING PERFORMANCE OF INDIAN AGRICULTUREEmployment Generation & Workforce Vs.
GDP GrowthIncreasing small and marginal farm holdingsWorkforce & low productivityIncreasing Wages of Hired LabourTerms of Trade (ToT) in AgricultureTotal Factor Productivity in AgricultureDarker side of Indian agriculture: Farmers’
Suicides
REJUVENATION OF INDIAN AGRICULTURE: NEED OF THE HOURPrice PolicyMacro Policies and AgricultureLand IssuesAgricultural CreditGlobalization and Agriculture
CONCLUSIONGovernment should focus on dealing with the
challenges created by globalization, volatility in prices, shrinking farm size, dry land farming challenges and environmental stress.
Any upcoming Government policy or economic policy reforms should address: The issues created by highly restrictive and complex
labour lawsHigh inflationHigh povertyCorruption and graft as well as Lack of political consensus and will.
Thank YouContact Us:
Ramesh Krishna, V.: Mobile: 9948474434, email ID: [email protected]
Prashanth Vidya Sagar, T.: Mobile: 8019627174, email ID: [email protected];
