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Accelerating Farm Income Growth: Opportunities and Challenges

In: Perspectives on Inclusive Policies for Development in India

Author

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  • A. Narayanamoorthy

    (Alagappa University)

Abstract

The contribution from the farming community to India’s agricultural development is huge. The agricultural sector stands as one of the biggest sectors in the world in terms of production of various crops because of the farmers’ contribution. But, the Indian farmers are not very happy today as they are passing through a painful phase over the last two decades mainly due to increased cost of cultivation and reduced income from farming. The reduced farm income resulted in increased indebtedness and widespread farm suicides. In order to increase the income of farmers, the union government has been working towards doubling the farmers’ income by 2022–23. An attempt is made in this study to bring out the true picture of farm income and also to highlight the various opportunities that can be considered to double the farmers’ income at a specified timeline. The analysis shows that the farm income is presently very low across the States in India. In order to achieve the goal of doubling farmers’ income, the paper suggests that there is a need to strengthen the overall agricultural market infrastructures, widen the procurement of crops beyond paddy and wheat and fixing minimum support prices for crops in consonance with the cost of cultivation.

Suggested Citation

  • A. Narayanamoorthy, 2022. "Accelerating Farm Income Growth: Opportunities and Challenges," India Studies in Business and Economics, in: Saiyed Raza Hashim & Rahul Mukherji & Brajaraja Mishra (ed.), Perspectives on Inclusive Policies for Development in India, pages 439-457, Springer.
    • Handle: RePEc:spr:isbchp:978-981-19-0185-0_22
    DOI: 10.1007/978-981-19-0185-0_22
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