Page 28 - Banking Finance May 2021

COVER STORY

ROADMAP FOR

AGRICULTURAL

SECTOR IN

INDIA

A griculture is the backbone of the Indian economy Indian farmers are landless, marginal and small farmers

owning not more than 5 acres of agricultural land.
as it provides livelihood to a large section of the
population. The agriculture sector provides
employment to more than 50% of the country's
workforce and accounts for 18% of India's GDP. More than In major parts of India, there is over-exploitation of
underground water, overuse of farm inputs viz. fertilizers,
70% of the rural households depend on agriculture for their pesticides, insecticides etc., saturated yield/acre, increased
livelihood. As per the Union Budget proposal for FY 2020- pressure on agri land, continuous crop rotation of wheat and
21, the government has allocated Rs. 2.83 lakh crore for paddy over the last few decades, lack of crop diversification
agriculture and allied activities, irrigation and rural due to government policies for providing minimum support
development. price and marketing arrangements for wheat and paddy
only and all these culminating to rising farm debts and
Current scenario ultimately leading to distress among farmers. Debt-ridden
farmers are committing suicides.
In India, more than 50% of agricultural households do not
own more than one acre of agricultural land and 85% of the
There is problem of salinity and alkalinity in many parts of
India due to soil texture and due to excessive use of
About the author inorganic fertilizers over a period of time.

Karanbir Singh In Northern India, stubble burning is going on unabated.
Chief Manager and Faculty, Laws have been enacted but could not be implemented in
Baroda Academy SPBT College, true sense resulting in suffocation and respiratory ailments
Mumbai. like asthma etc.

28 | 2021 | MAY | BANKING FINANCE