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ISSN : 2583-9667, Impact Factor: 6.038

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Email editor.ijarmjournals@gmail.com

Contact : +91 9315510518

Abstract

International Journal of Advance Research in Multidisciplinary, 2023;1(1):52-54

Impact of agricultural subsidies on agricultural development in India

Author : Heena B Dasyal, RV Gangshetty

Abstract

The nation's growth and prosperity depend significantly on the agriculture sector. However, Indian agriculture is not keeping up with the rest of the world. The government supports the agricultural industry through subsidies to increase farmer independence, create jobs, and encourage small-scale producers to use modern inputs and technologies, which is essential for Indian farmers today. In every nation, agricultural subsidies are crucial to the growth of the agricultural sector. The government of India is currently subsidizing agriculture through direct and indirect subsidies. Agriculture financing encourages poor farmers to grow their income and promotes the creation of agricultural supply chains that will be able to feed 9 billion people by the year 2050. Our work in agriculture financing provides clients with the opportunity to support long-term environmentally friendly investments that encourage sustainable agriculture, agri-food supply chains, and market-based financial services. The need for food will rise by 70% by 2050; investments of at least $80 billion per year will be required to meet this demand. The present analysis is based on secondary data from researchers and government-published sources.

Keywords

Agriculture, subsidies, finance, development