Farm Policy Re-orientation: CEA Nageswaran's Call
By Rediff Money Desk, New Delhi Jul 22, 2024 13:56
CEA Nageswaran advocates for a pan-India dialogue on agriculture, urging policy re-orientation despite subsidies, to address challenges like soil degradation and environmental pollution.
New Delhi, Jul 22 (PTI) Chief Economic Advisor V Anantha Nageswaran has called for a pan-India dialogue on the agriculture sector, highlighting the need for policy re-orientation despite existing subsidies and support measures.
In the preface to the Economic Survey 2023-24, Nageswaran noted that while the government provides substantial support to farmers through subsidies on water, electricity, and fertilizers, along with income tax exemptions and minimum support prices, there is room for improvement in policy implementation.
"A case can be made that they (farmers) can be served better with some re-orientation of existing and new policies," the CEA stated.
The survey pointed out that current policies, implemented by both national and sub-national governments, often work at cross-purposes, leading to unintended consequences. These include soil fertility degradation, groundwater depletion, environmental pollution, and nutritional imbalances in crop production and dietary habits.
Nageswaran emphasised the potential for significant benefits if the complexities in farm sector policies are addressed. "The payoff will be immense if we untie the knots that bedevil farm sector policies," he said.
The CEA suggested a paradigm shift in viewing agriculture's role in economic development. Contrary to conventional models of economic progression from agriculture to industry to services, Nageswaran proposed that the farm sector could potentially be an economic "saviour" for India.
"Can the farm sector be the saviour?" he questioned, adding that a return to sustainable farming practices and revised policymaking could boost agricultural value addition, and farmer incomes, and create opportunities in food processing and exports.
The survey underscored the potential for making the agricultural sector both "fashionable and productive" for India's urban youth, potentially setting a global model for both developing and developed nations.
In the preface to the Economic Survey 2023-24, Nageswaran noted that while the government provides substantial support to farmers through subsidies on water, electricity, and fertilizers, along with income tax exemptions and minimum support prices, there is room for improvement in policy implementation.
"A case can be made that they (farmers) can be served better with some re-orientation of existing and new policies," the CEA stated.
The survey pointed out that current policies, implemented by both national and sub-national governments, often work at cross-purposes, leading to unintended consequences. These include soil fertility degradation, groundwater depletion, environmental pollution, and nutritional imbalances in crop production and dietary habits.
Nageswaran emphasised the potential for significant benefits if the complexities in farm sector policies are addressed. "The payoff will be immense if we untie the knots that bedevil farm sector policies," he said.
The CEA suggested a paradigm shift in viewing agriculture's role in economic development. Contrary to conventional models of economic progression from agriculture to industry to services, Nageswaran proposed that the farm sector could potentially be an economic "saviour" for India.
"Can the farm sector be the saviour?" he questioned, adding that a return to sustainable farming practices and revised policymaking could boost agricultural value addition, and farmer incomes, and create opportunities in food processing and exports.
The survey underscored the potential for making the agricultural sector both "fashionable and productive" for India's urban youth, potentially setting a global model for both developing and developed nations.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 9.50 (+ 3.60)
- 98491250
- GTL Infrastructure
- 2.32 (+ 4.98)
- 74918021
- Advik Capital
- 3.25 (+ 7.97)
- 34086998
- Jaiprakash Power Ven
- 20.03 (+ 8.45)
- 26873790
- Spicejet Ltd.
- 62.80 (+ 9.10)
- 26113604
MORE NEWS
Atal Pension Yojana Enrolment Crosses 7 Crore
The Atal Pension Yojana (APY) has crossed 7 crore enrolments, marking a significant...
BIF Opposes Jio's Demand for Satcom Spectrum...
Broadband India Forum (BIF) has opposed Reliance Jio's demand to revise the...
Samsung Tops Festive Smartphone Sales with 20%...
Samsung led smartphone sales during the first phase of the festive season with a 20%...