Agri and allied sectors contribute nearly 16.5 percent to the overall Indian GDP which is mainly due to relatively higher performance by non-agri sectors and it grows at 2.8 percent per annum. The agriculture sector needs to grow in double digits for doubling the farmer’s income by 2022.
For the agriculture sector to grow at that rate what should be the priorities for the participants in agriculture? With various issues atop of Indian agriculture, attaining double-digit growth in agriculture will be a struggle.
Productivity: India is the world’s second-largest producer of rice and wheat, but in terms of productivity the ranks are 52nd and 38th respectively. Factors like farmer’s superstition and illiteracy, low soil fertility due to unscientific use of chemicals, and fragmentation of land due to an increase in population reduce agricultural productivity. Customised land consolidation legislation should be designed to reduce land fragmentation and improve rural infrastructure. Integrated nutrient management systems should be implemented effectively so that soil fertility will improve and agriculture extension needs to be strengthened to help farmers meet the contemporary market requirements.
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SafalFasal unlocks financial access for 75,000 Indian farmers, aims to repair Coronavirus-hit supply chain
Global digital payment solutions leader BPC and its SME Marketplace, SafalFasal, have supported more than 75,000Covid-hit farmers across India by offering technological and financial solutions to help the farm sector keep food and supply chain rolling, during and after the lockdown phase. The company has successfully extended formal financing to the farming industry by creating an easy credit line via NBFCs.
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âZero Budget Farmingâ
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