4 min read.Updated: 24 Jan 2018, 01:45 AM ISTLivemint
Farmers need structural reforms, crop diversification and greater public investment rather than subsidies and price support
Indian agriculture has been relatively untouched by the structural reforms that lifted incomes in other parts of the economy. Low farm productivity meant that governments tried to improve the lot of farmers through price policy. The problem is that engineering a shift in the terms of trade through higher support prices usually leads to generalized inflation—and that is precisely what happened during the tenure of the two governments led by Manmohan Singh.