Try GOLD - Free

From parched fields to prosperity

Financial Express Pune

|

January 05, 2026

FARMER PROSPERITY CAN BE REAL IF INNOVATION IS SCALED WITH COLLABORATION BETWEEN ALL STAKEHOLDERS

- ASHOK GULATI ISHITA MANDLA

VICTOR HUGO ONCE wrote “No power on earth can stop an idea whose time has come.” In contemporary India, in the midst of drought in 2015-16, Prime Minister Narendra Modi floated an idea to double farmers’ real incomes by 2022-23.

He called it his dream as he knew that if peasantry prospers, India will prosper. Even Mahatma Gandhi said that India lives in villages. But today, the economic condition in villages is not very good. They are still lagging behind in basic infrastructure. To the best of our knowledge, no independent study has been undertaken about the outcome of PM Modi’s idea of doubling farmers’ incomes. However, at ICRIER, we have researched on this issue and our conclusion is that the achievement was less than 50%.

Almost at the same time, in a drought-stricken district (Beed) in Maharashtra, someone else—Mayank Gandhi—floated an idea of Krishikul under the Global Vikas Trust (GVT) to augment farmers’ incomes. He and his team of GVT convinced farmers to shift from traditional crops of soyabean and cotton to fruit crops such as papaya, custard apple, sweet lime, guava, pomegranate, mulberry, bananas, etc. The result has been astounding. As per an independent evaluation study by Tata Institute of Social Sciences (TISS) in 2024, the per acre income of farmers increased by more than 10 times, from |38,700 to €3.93 lakh within a short transition period. So far, GVT has planted more than 6.7 crore fruit trees (cumulatively) in about 43,000 acres belonging to roughly 30,000 farm families spread across 5,000 villages. Now the issue is—if this can be done in Maharashtra’s Beed, why it can’t be replicated and scaled up to other districts and states? That’s where the role of the state and central governments comes in.

MORE STORIES FROM Financial Express Pune

Financial Express Pune

MF industry’s Dec outflow at ₹66,591 cr

THE INDIAN MUTUAL fund industry saw outflows of ₹66,591 crore in December due to withdrawals of ₹1.32 lakh crore from debt schemes and a 6.2% decline in inflows into equity schemes.

time to read

2 mins

January 10, 2026

Financial Express Pune

Pick. Drop. Repeat

GIG WORKERS ARE OFTEN AT THE MERCY OF ALGORITHMIC MANAGEMENT PRACTICES THAT EXHIBIT BIAS AND NEGATIVELY IMPACT THEIR EARNINGS

time to read

3 mins

January 10, 2026

Financial Express Pune

RIL may offload 2.5% in Jio, net ₹40K cr

RIL may offload 2.5% in Jio, net ₹40K cr

time to read

1 min

January 10, 2026

Financial Express Pune

Demat account growth in 2025 lowest in six years

THE TOTAL NUMBER of demat accounts stood at a record 215.93 million at the end of 2025, data from CDSL and NSDL showed.

time to read

1 min

January 10, 2026

Financial Express Pune

The D2C wave

SCALE, TRUST, DISTRIBUTION PAIRED WITH DIGITALAGILITY UNLOCK A MORE COMPETITIVE AND CREATIVE INDUSTRY

time to read

4 mins

January 10, 2026

Financial Express Pune

Major reforms expected in customs procedures

AS FINANCE MINISTER Nirmala Sitharaman is set to present the Union Budget for FY27 in Parliament on February 1, industry stakeholders and tax experts are expecting significant reforms in the customs procedures, particularly the simplification of the special valuation branch (SVB) process.

time to read

1 mins

January 10, 2026

Financial Express Pune

RBI guv: Regulators and regulated are in the same team

RESERVE BANK OF India (RBI) governor Sanjay Malhotra on Friday said digitalisation is transforming the financial system, demanding agility and collaboration in regulation and supervision.

time to read

1 min

January 10, 2026

Financial Express Pune

China to roll out package of policies

CHINA'S CABINET HELD a meeting on Friday about implementing a package of fiscal and financial policies to boost domestic demand, including initiatives to spur household consumption, state broadcaster CCTV reported.

time to read

1 min

January 10, 2026

Financial Express Pune

Bain’s Manappuram deal faces delay as RBI objects

SEBI, COMPETITION COMMISSION HAVE ACCORDED APPROVALS

time to read

1 min

January 10, 2026

Financial Express Pune

US job growth slows in December

US JOB GROWTH slowed more than expected in December amid business caution about hiring because of import tariffs and rising artificial intelligence investment, but the unemployment rate dipped to 4.4%, supporting expectations the Federal Reserve would leave interest rates unchanged this month.

time to read

1 min

January 10, 2026

Listen

Translate

Share

-
+

Change font size