Understanding the Indian Economy from the Post-Reforms of 1991, Volume III: Indian Agriculture
The agricultural sector is impacted by and impacts the society, economy, and environment. No study of the Indian economy can afford to neglect the agricultural sector. Although its share in the national product has declined, it harbors not merely half of the labor force; it has also vital supply and demand links with the manufacturing sector.
This is the third volume in the series of eight such volumes. Each volume seeks to present an analysis of a specific area or sector of the Indian economy. This volume examines various aspects of India’s agricultural sector.
Three of the basic foundations needed for building a sound agricultural economy are a productive technology package, efficient delivery services, and remunerative and stable market prices for produce. The federal structure of government and policies belong primarily to the realm of political economy. Policy interventions need to focus on ensuring remunerative prices for farmers, credit, supply chain, and marketing and make the farmer market ready.
Though policymaking is difficult, the toolkit of good governance of agriculture becomes more important and regulations need improvement. For better policy planning, there is a need to improve upon the database on agriculture, considering that the existing data is unreliable.