Since for the farmer, it is not mere output but income (output multiplied by price) that matters, growth in nominal agricultural GVA being at low single-digits isn’t good news. Nor would it be so for any ruling party ahead of elections.
According to the survey, whose reference period is 2015-16, the average net monthly income of Indian rural households — after deducting expenses incurred in the course of economic activity — was Rs 8,059.
The Modi government has further launched a number of schemes for achieving sustainable agricultural growth. The focus is now on the “profitability” rather than simply the “productivity” aspect of farming.
The court also asked the Central government to explore the possibility of creating a fund for innovation in farming techniques. It told the secretaries of the three ministries to hold a meeting on this aspect.