Revitalizing Indian Agriculture and Boosting Farmer Incomes

Although agriculture accounts for about 17.8 percent of country’s Gross Value Added (GVA) (2019–20 current prices), it remains central to the Indian economy as it still engages about 44% of the work force (it was 47% in 2015–16 as per Labour Bureau, GOI). India is also going to be the most populous country in the world by 2027, according to population projections by the UN, and ensuring food security for this large mass of humanity is a daunting task, more so when it also has the largest number of poor and malnourished in the world (as per World Bank’s Development indicators). An average Indian household spends about 45% of its expenditure on food (this ratio stands at 60% for the poor in bottom expenditure group) (NSSO 2011). No wonder agriculture remains critical for India as it has implications not only for farmers in terms of their income, but also for consumers, especially with respect to ensuring food security of the poor and the malnourished.
[2021]

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