09-25-2020     3 رجب 1440

Agriculture : A Glimmer of Hope for Crippling Economy

September 16, 2020 | Yasir Nazir Parrey

Recently the data revealed by the National Statistical Office (NSO) confirmed that the GDP shrank by a whopping 23.9 % which undoubtedly made it crystal clear that India has officially entered a phase of recession this year. Apart from all the sectors that contribute to the national economy, agriculture is the only sector which has displayed positive growth of 3.2 in the first quarter of June. India being an agricultural country, about 70 % its population depends directly or indirectly for livelihood on agriculture and allied activities. As we know this implacable and perpetual pandemic has squandered the economy of almost whole world, it too has ruffled and breached the economic stability of India as well. India has suffered worst fall among the global peers. But what comes as silver lining is the unprecedented show of agriculture sector which provides a glimmer of hope in the times of crippling economy. Actually, Gross Value Added (GVA) by agriculture has grown by 3.4 % for this quarter which shows promising results in itself. More importantly, recently RBI estimate showed that agriculture sector in 2019-2020 recorded a real GVA growth of 4 % and this was due to the exorbitant production of food grains. With this agricultural economy accounted for 15.2 % of the overall economic growth of the country. Hence this sector has a much greater impact on the economic stability of India subjected to the conditions that this sector is dealt with farmer friendly policies, enhanced farmer outreach, timely expert as well as financial assistance approaches.

COVID-19 pandemic has jeopardized the very core stability of every nation breaching the realms of economy, health care system as well as the livelihood of the masses. This unabating and behemoth pandemic has undermined many economic sectors by almost complete cessation of operations of manufacturing firms, tour and travel, hotels, transport and many more. Since this pandemic coincided with our Rabi season harvests and is surging up in the present Kharif season as well; albeit an interesting and encouraging scenario is surfacing up that agriculture sector has attracted a prodigious private investment paving the way for the regeneration of lost livelihoods and in the long run rehabilitating and mitigating the problem of individual as well as national economic bankruptcy. This is due to the reverse migration of people to the rural areas and the uncertainty looming over the future livelihood has conscripted many to invest back on agriculture. From previous year, it is being envisaged tPertaining to the situation of J&K which has suffered an economic debacle from two years now, is facing a very tumultuous and coercive situation and the strangulating consequences have already beleaguered the very stability of economy. Almost every sector of economy whether it is tourism, transport, industries or the farming sector is facing this stymied situation and it is imperiling the future sustenance and stability of people. In semblance to the rest of country, agriculture is perhaps the only sector which has emerged now as the savior giving the hope for the future economic stability to the people of J&K. Since, horticulture is the hardihood of the economy of valley but this sector has suffered colossal losses due to scab disease, uneven distribution of rains, sub-standard availability of fungicides and other chemicals in the market as well as less advisory and intervention by the experts and the concerned department. Although, J&K government is bringing in extensive measures to mitigate the economic repercussions of COVID-19 pandemic on agriculture and allied sectors, yet the ground results are not promising due to less farmer out-reach and time bound redressal to the problems of farmers. Decongestion of major fruit and vegetable Mandies, timely marketing of the produce and notifying the specific places in each district where the farmers can bring their produce for marketing without any intermediary interference are some of the measures which are of course commendable but require expedite and regular government checks and regulations for swift operation free from any sort of monopoly and extra-profiteering. It is an indispensable need of hour that government should recognize and facilitate the sale and export of local Saffron, Basmati rice and even the Apple produce in international markets in order to boost the farm economy and financial aplomb of the people of J&K.
It is can be asserted with ephemerality that proper farmer friendly schemes and policies, easy access and magnanimous approach of expert and credit facilitating institutions, adequate market intervention approaches by goverment, vast public outreach by the extension officials, congruent crop insurance schemes and more importantly educating and convincing the farmers regarding the use of sophisticated and eco-friendly techniques and inputs can act as a vivacious impetus in the upliftment and overhauling of hamstring economy in an imperturbable way in the near future.

 

 


Email:-yasirnazirparrey@gmail.com

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Agriculture : A Glimmer of Hope for Crippling Economy

September 16, 2020 | Yasir Nazir Parrey

Recently the data revealed by the National Statistical Office (NSO) confirmed that the GDP shrank by a whopping 23.9 % which undoubtedly made it crystal clear that India has officially entered a phase of recession this year. Apart from all the sectors that contribute to the national economy, agriculture is the only sector which has displayed positive growth of 3.2 in the first quarter of June. India being an agricultural country, about 70 % its population depends directly or indirectly for livelihood on agriculture and allied activities. As we know this implacable and perpetual pandemic has squandered the economy of almost whole world, it too has ruffled and breached the economic stability of India as well. India has suffered worst fall among the global peers. But what comes as silver lining is the unprecedented show of agriculture sector which provides a glimmer of hope in the times of crippling economy. Actually, Gross Value Added (GVA) by agriculture has grown by 3.4 % for this quarter which shows promising results in itself. More importantly, recently RBI estimate showed that agriculture sector in 2019-2020 recorded a real GVA growth of 4 % and this was due to the exorbitant production of food grains. With this agricultural economy accounted for 15.2 % of the overall economic growth of the country. Hence this sector has a much greater impact on the economic stability of India subjected to the conditions that this sector is dealt with farmer friendly policies, enhanced farmer outreach, timely expert as well as financial assistance approaches.

COVID-19 pandemic has jeopardized the very core stability of every nation breaching the realms of economy, health care system as well as the livelihood of the masses. This unabating and behemoth pandemic has undermined many economic sectors by almost complete cessation of operations of manufacturing firms, tour and travel, hotels, transport and many more. Since this pandemic coincided with our Rabi season harvests and is surging up in the present Kharif season as well; albeit an interesting and encouraging scenario is surfacing up that agriculture sector has attracted a prodigious private investment paving the way for the regeneration of lost livelihoods and in the long run rehabilitating and mitigating the problem of individual as well as national economic bankruptcy. This is due to the reverse migration of people to the rural areas and the uncertainty looming over the future livelihood has conscripted many to invest back on agriculture. From previous year, it is being envisaged tPertaining to the situation of J&K which has suffered an economic debacle from two years now, is facing a very tumultuous and coercive situation and the strangulating consequences have already beleaguered the very stability of economy. Almost every sector of economy whether it is tourism, transport, industries or the farming sector is facing this stymied situation and it is imperiling the future sustenance and stability of people. In semblance to the rest of country, agriculture is perhaps the only sector which has emerged now as the savior giving the hope for the future economic stability to the people of J&K. Since, horticulture is the hardihood of the economy of valley but this sector has suffered colossal losses due to scab disease, uneven distribution of rains, sub-standard availability of fungicides and other chemicals in the market as well as less advisory and intervention by the experts and the concerned department. Although, J&K government is bringing in extensive measures to mitigate the economic repercussions of COVID-19 pandemic on agriculture and allied sectors, yet the ground results are not promising due to less farmer out-reach and time bound redressal to the problems of farmers. Decongestion of major fruit and vegetable Mandies, timely marketing of the produce and notifying the specific places in each district where the farmers can bring their produce for marketing without any intermediary interference are some of the measures which are of course commendable but require expedite and regular government checks and regulations for swift operation free from any sort of monopoly and extra-profiteering. It is an indispensable need of hour that government should recognize and facilitate the sale and export of local Saffron, Basmati rice and even the Apple produce in international markets in order to boost the farm economy and financial aplomb of the people of J&K.
It is can be asserted with ephemerality that proper farmer friendly schemes and policies, easy access and magnanimous approach of expert and credit facilitating institutions, adequate market intervention approaches by goverment, vast public outreach by the extension officials, congruent crop insurance schemes and more importantly educating and convincing the farmers regarding the use of sophisticated and eco-friendly techniques and inputs can act as a vivacious impetus in the upliftment and overhauling of hamstring economy in an imperturbable way in the near future.

 

 


Email:-yasirnazirparrey@gmail.com


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Owner, Printer, Publisher, Editor: Farooq Ahmad Wani
Legal Advisor: M.J. Hubi
Printed at: Abid Enterprizes, Zainkote Srinagar
Published from: Gulshanabad Chraresharief Budgam
RNI No.: JKENG/2010/33802
Office No’s: 0194-2451076, 9622924716 , 9419400056
Postal Regd No: SK/135/2010-2019
Administrative Office: Abi Guzer Srinagar

© Copyright 2018 brighterkashmir.com All Rights Reserved.