Doubling farm income

THE Prime Minister of India has rightly made a clarion call to all those engaged in the agriculture sector to focus their energy and efforts on doubling farmer’s income. To my mind, there can be no two-ways about this, it is indeed the most important and critical area if India is to achieve the status of a developed nation. India has a population of 1.34 billion (2017) and according to the official census figures of 2011, 83.37 crore (68.84 per cent) live in rural areas while 37.71 crore live in urban areas. Despite urbanisation, rural markets still account for half of India’s Gross Domestic Product (GDP), which is estimated to be $2.848 trillion (nominal) and $10.385 trillion (PPP) for the year 2018. The contribution of agriculture to GDP is 17.32 per cent, industry 29.02 per cent and services 53.66 per cent.

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