MBA Aspirants are expected to know and understand the reasons for current declining economic conditions. This general awareness will help you in WAT/Essay/GD and PI also.
Read: What measures will stop the declining of agriculture growth?
The agriculture sector is extremely important for the growth of our nation because it accounts for more than 15% of our GDP and 10% of our export earnings. And according to a number of reports, more than half of the workforce in India is into farming.
Given India’s high stakes in the field of agriculture, one would expect the government to come up with effective policies to safeguard this sector; sadly, this is not the case.
In fact, in the last five years, the agriculture growth rate in India has fallen short of the 4% growth target and government policies implemented in this time period have proven to be ineffective.
So, where has the government gone wrong and what can it do to prevent the agriculture growth of our country from deteriorating further? On paper, we see a number of schemes that the government has come up with to help the farmers in India but it is sad that close to 75% of the farmers do not get benefits from these government schemes.
There are a number of schemes in the pipeline, including the Construction of Rural Godowns, Market Research and Information Network, and Development/Strengthening of Agricultural Marketing Infrastructure, Grading and Standardization, but the government has not been able to raise enough capital to implement these schemes.
So, the first thing that the government needs to do is to raise funds so that schemes that are in the pipeline get implemented as soon as possible. And the government should ensure that the farmers are able to reap the benefits of the schemes.
Studies show that close to 80% of the farmers in India are small and marginal; therefore, they are left out of government schemes. The government needs to appoint officials who will ensure that the schemes are implemented successfully and that every farmer has access to funds and resources allocated by the government.
Most farmers in India do not have access to technology – they are highly dependent on the weather and when the rainfall is low, their yields fall drastically and this affects their income and livelihood.
So, to ensure that agriculture growth is not highly dependent on the weather, the government needs to invest in technology, including water sprinklers. This way, even when the weather is not favorable to farmers, India’s agriculture sector will not suffer.
The agriculture sector is the backbone of India’s economy. Hence, the government should take steps to ensure agriculture growth in India.
â–ºFirst and foremost, the government should ensure that the funds set aside for agricultural development are reaching the farmers. Corruption is rampant in India and funds get diverted to wrong channels quickly – so, the government has to keep an eye on corrupt officials who may be taking away the farmers’ share of resources.
â–ºNext, the government has to invest in technology and reduce farmers’ dependence on the weather. By educating the farmers on how they can attain high yields, India will be one step closer to achieving the target agriculture growth put forth by our ministers.