INCREASE INVESTMENT IN AND FOR AGRICULTURE TO INCREASE INCOME

 

DOUBLING FARMERS' INCOME-

(4) INCREASE INVESTMENT IN AND FOR AGRICULTURE:

As per a report of the Committee on Doubling Farmers’ Income (DFI) said an additional investment of Rs 6,39,900 crore is required from both public and private sectors to enable doubling of farmers' real income by 2022-23, on  2004-2005 prices⁵.

To boost farmers’ real income the committee said an additional Rs. 617 billion private investment is required. The committee strongly recommended the stepping up of institutional credit on a large scale as only 50 to 60 percent of the requirement is being fulfilled through institutional credit. In back States the investment requirement will be still more.

During last few years we have witnessed higher budgetary allocations e.g. the total budgetary allocation of the Ministry of Agriculture and Farmers which was Rs. 25460 crore in the year 2015-16 gone up to Rs. 58080 crore in the year 2018-19. But still it is not sufficient in relation to the projections made by the Committee on DFI.

The public investment for agriculture also needs to be stepped up but looking at the fiscal situation and shrinking collection of GST we may only hope that these dreams will be fulfilled in coming next few years.