Farmers’ income increased in recent years: EAM-PM chair

Indian agricultural growth has been the highest among the large economies in the last decade, resulting in significant increase in farmers’ income, Economic Advisory Council to Prime Minister (EAC-PM) Chairman S Mahendra Dev said on Thursday. Addressing an event organised by International Chamber of Commerce, Dev said India achieved significant progress in agriculture production since the green revolution, transforming itself from a food deficit nation into one of the world’s largest producers of food grains, fruits, vegetables, milk, and fisheries.

“The average growth of Indian agriculture has been close to 4.5 per cent over the last decade or so, probably the highest among the large economies of the world,” he said.

Dev noted that agriculture has a share of about 17 per cent of GDP and 43 per cent in employment. He said the present government is focusing on increasing farmers’ incomes instead of only on production. He said diversification and focus on high-value crops, livestock and fisheries, will help farmers get higher incomes.

The economist noted that the current policies in agriculture will have to keep in mind current global challenges.

AI can be used for increasing supplies.  Similarly, the blockchain technology-based systems are particularly useful for high-value crops and exports, Dev added.