Nice speech on the topic by Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India.
Issues of low agri productivity have been known for a long time. This one just helps know more and has some nice tables and graphs. Summary:
I feel that instead of lamenting that productivity has been low, we must look at the past to the Green Revolution in the 1960s to draw confidence that productivity can be improved. We need to find ways to surmount the existing constraints and step up productivity using finance as a tool. The Green Revolution paved the way for food security in India. No major technological breakthrough has emerged since then, and with the need for higher production growing, a second green revolution is inevitable. In fact, to borrow a term coined by Prof Swaminathan, we need an evergreen revolution. However, to cater to the food security and food safety net, India needs a higher production along with enhanced productivity in cereals, pulses, oilseeds, vegetables, poultry, meat, fish and milk.
September 15, 2011 at 12:14 pm |
I’m surprised that no mention was made of land reform. With the average plot size in India being quite small, this makes it exceptionally hard for the necessary investment in capital stock.