Page 40 - Banking Finance March 2022

ARTICLE

DOUBLING

FARMERS

INCOME-NEED

OF THE HOUR

A griculture and allied sector provides livelihood to Swaminathan, to suggest methods for faster and more

54.6% of the population of India (census 2011)
inclusive growth for farmers. Then, the Government of India
in 2016 constituted an expert committee headed by Ashok
and it contributes 17.80 % to the country's Gross
Value Added (2019-20) as per Economic Survey
2020. India ranks among the top countries in the Dalwai to look into the entire agriculture ecosystem in the
country to suggest ways and means to reform it so that
world in production of a number of crops including rice, farmers' income can be doubled by 2022.
wheat, sugarcane, fruits and vegetables. Farmers are, and
will remain the drivers of Agricultural sector. Current Status of Farmers' Income

Y According to NSSO survey, for the year 2012-13, the
Since the development of Farm mechanisation in India is still
average annual income for a farm household from farm
below the mark due to several factors like small land holdings, as well as non-farm source was Rs.77, 112.
equipment cost and poor credit availability, the role of farmer
in agriculture holds crucial importance and it is our imperative Y A study by Chand et al in 2015 reveals that it took 22
to ensure that farmers find Agriculture as a profitable years (1993-94 and 2015-16) to double the farmers' real
economic activity. In this backdrop, National Commission for income.
Farmers was constituted in 2004, chaired by Prof. M. S. Y More than 20% of the farmers in India are Below
Poverty Line.
About the author
Major Reasons behind farmer Distress
Pravindra Kumar
Senior Manager - Faculty in India
Staff Training Centre Y Small land holdings: As per Economic Survey 2020, the
Union Bank of India pattern of agricultural holdings reflects pre-dominance
Kolkata
(85 per cent) of small and marginal farmers in

40 | 2022 | MARCH | BANKING FINANCE