Viksit must be inclusive

Importance of Agriculture:

• Agriculture contributes 18% to India’s GDP but employs 45% of the workforce.

Challenges:

• Reducing water consumption, soil degradation, and curbing GHG emissions.
• Without policy changes, agriculture’s share in GDP may drop to 7-8% by 2047.
• Skill formation and job transition are vital for rural populations.
• Agri-GDP growth in 2023-24 is low at 0.7%, posing risks for economic disparity.
• Extreme weather events threaten agriculture’s stability.

The way ahead

• Policy reforms should rationalize subsidies, boost R&D, promote high-value agriculture, and facilitate market access.
• Access to pan-India and export markets should be enhanced through cooperatives, FPOs, digital commerce, and contract farming.
• Restrictions on futures trading should be reconsidered for price stability.
• Viksit Bharat needs to prioritize agricultural development for inclusivity and productivity.

Source: Indian Express