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Research Paper | Economics | India | Volume 12 Issue 4, April 2023 | Popularity: 5.2 / 10

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Effects of Indian Agricultural Reforms on an Agricultural Sector

Shikha Nagar

Abstract: The various economic reform strategies undertaken by government over a period of about three decades on the agricultural sector in India were the exploitative strategy, agricultural project strategy, direct production strategy and integrated rural development strategy. Overall, these economic reform strategies were geared toward the achievement of food self - sufficiency and food security, generation of gainful employment, increased production of raw materials for industries, increased production and processing of export crops, rational utilization of agricultural technologies for the improvement of life of its citizens. These strategies notwithstanding, government also pursued other on - going initiatives to step - up agricultural development across the country. The effects of economic reforms on the agricultural sector was examined alongside its fundamental roles of food security, supply of raw materials to industries, provision of market, employment and foreign exchange as well as generation of savings for investment in agriculture and other sectors. Agriculture contributed minimally during the period in terms of output, market, foreign exchange and capital formation or transfer as a result of policy instability, poor coordination of policies, poor implementation and mismanagement of policy instruments and lack of transparency. It is recommended that enduring genuine good governance should be allowed to thrive in India in order to achieve poverty reduction, sustainable livelihood and food security which will guarantee comprehensive economic development and attainment of the Millennium Development Goals (MDGs 2020).

Keywords: Economic reforms, agricultural reforms, infrastructural development, crop insurance, stabilization

Edition: Volume 12 Issue 4, April 2023

Pages: 1288 - 1293

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